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Deal in the works on Bush-era tax breaks and help for the jobless

Following Senate votes Saturday, party leaders say a compromise is likely involving an extension of Bush-era tax breaks for all income levels, plus an extension of unemployment benefits.

Democrat Senate Majority Whip Richard Durbin (L) and Republican Senate Minority Whip Jon Kyl appeared on CBS News' "Face the Nation" Sunday. Senior lawmakers say they are optimistic about striking a deal to extend Bush-era tax cuts for all taxpayers and continue emergency jobless aid for millions of long-term unemployed Americans.

Chris Usher/Face the Nation/Reuters

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Following Saturday’s Senate theatrics involving Bush-era tax cuts, it’s looking increasingly like a deal will be hammered out before Christmas

On Sunday’s TV talk shows, leaders of both parties indicated a compromise is in the works – likely involving an extension of tax breaks for all income levels, plus an extension of unemployment benefits.

As usual, the devil will be in the details. How long will the extensions last? Will there be budgetary offsets to cover the costs?

Congress lets unemployment benefits expire: 'What now' and six other questions

“I think that most folks believe that the recipe would include at least an extension of unemployment benefits for those who are unemployed and an extension of all of the tax rates for all Americans for some period of time,” Senate Republican Whip Jon Kyl, said on CBS’ “Face the Nation.”

Senate Democratic Whip Dick Durbin of Illinois, also on “Face the Nation,” agreed that the Senate was “moving in that direction.”

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