From Reuters
According to the aide, who asked not to be identified, the new proposal pares back a Democratic plan rejected last week. It no longer would give employers a reduction in their 6.2 percent payroll tax. But like the previous version, it would cut workers' tax to 3.1 percent, from the current 4.2 percent.
Also, a new tax on income above $1 million a year would be scaled back from the original 3.25 percent. The exact rate has not yet been determined, the aide said, but it would be in the range of 1.7 percent to 1.9 percent.
Without congressional action, the payroll tax on workers goes back to its normal 6.2 percent on Jan. 1.
The "compromise" pares back some domestic programs to pay for the rest of the projected $110 billion cost of extending the payroll tax cut, the aide said, without providing details.
It also would impose some tighter eligibility standards that Republicans wanted on the food stamp program and unemployment benefits, the Democratic aide said.
Please dilute me, let me go ....