Obama: Tax Cut Compromise Will Extend Unemployment Aid By 13 Months

President Barack Obama announced Monday evening that the administration is willing to compromise with Congressional Republicans on the Bush era tax cuts by granting an across the board two year extension for Americans in every bracket.

In exchange for the move, which bucks Congressional Democrats’ desire to prolong the tax cuts for those who make less than $250,000, there will be an extension of unemployment insurance for the next 13 months. (0:07)

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