House releases payroll tax compromise

House leaders on Thursday afternoon posted the text of the payroll tax conference agreement, H.R. 3630.

The bill extends the payroll tax holiday through the end of 2012, and also extends unemployment benefits and boosts Medicare physician reimbursement rates.

But the final agreement also reflects several other changes from both the House and Senate-passed bills. According to the conferees' report, it includes language similar to that passed by the House that requires people seeking unemployment benefits to be actively seeking work. It also gives up to 10 states flexibility on how to use federal unemployment funds.

But in a defeat for House Republicans, the final strikes language delaying four EPA rules.

Also, the bill does not include an extension and modification of the federal flood insurance program.