The chairman of the Senate Budget Committee says the proposal to extend the payroll tax cut includes a “serious” way to pay the price tag of more than $200 billion.

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Dems to compromise on payroll tax cut

One day after the departure of a key Republican senator threatened to derail the bipartisan Gang of Six talks aimed at producing a comprehensive deficit-reduction plan, the group’s remaining five members emerged from an hour-long huddle Wednesday sounding an optimistic note and pledging to meet again Thursday. “We had a very constructive meeting today; we intend to meet again tomorrow, and we’re going to keep working,” Senate Budget Committee Chairman Kent Conrad (N.D.), one of three Democrats in the working group, told reporters after Wednesday’s meeting. “I think that’s a summary of what we’re going to say at this moment, and I think all of us are encouraged.” Read full article > >

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Senators ‘encouraged’ as Gang of Six deficit talks resume, minus Coburn