House Republicans have finally agreed to accept a short-term bipartisan compromise to cut payroll taxes for the middle class and extend unemployment insurance benefits. This is a victory for 160 million Americans who would have seen their taxes go up in January if House Republicans had continued to oppose the bill.

People all over the country have spoken out about the need for Congress to work together. I couldn't agree with them more, and I hope that today's acceptance by House Republicans signals their further cooperation in 2012 on helping our economy and creating jobs.

I spoke about the process and the compromise this morning on KGO. Listen to the audio.