US Congress poised to pass payroll tax cut deal

House, Senate arrange to fast-track approval of bill

WASHINGTON - The US Congress, after months of bitter fighting, is poised on Friday to pass a payroll tax cut extension that US President Barack Obama argues is vital to the health of the country's economy.

The legislation would continue for two months a 4.2 percent payroll tax rate that would otherwise expire on Dec 31 and ratchet up to 6.2 percent for 160 million American workers.