Reid: Extenders has to move before weekend for 'doc fix'

Senate Majority Leader Harry Reid (D-Nev.) on Thursday said work has to be completed on the so-called tax extenders bill before the weekend to keep a 21 percent cut in Medicare payments to doctors from taking effect. 

"We've cried wolf for the last time. It [the 21 percent cut] will go into effect over the weekend," Reid said, adding, "Everyone on both sides of the aisle should understand the time to sit back and say, 'we'll work out something later,' that time isn't going to be here. We've [got] to do something today, tomorrow at the latest." 

The tax extenders bill delays for 6 months the payment cut to doctors that serve Medicare patients, meaning if passage occurs on this bill, members will be looking to extend the doc fix again by Christmas.

The extender package being proposed by Democrats resuscitates several expired tax and spending measures, including unemployment insurance and Medicaid aid to states. The bill is expected to cost approximately $115 billion and will add roughly $60 billion to the deficit.