U.S. House Speaker John Boehner finally gave in to public and political pressure and agreed to a two-month extension of the payroll tax cut, CNN Money reports.

The deal, if approved by both the House and Senate, would ensure that in January, 160 million American workers do not see a reduction in their paychecks, the long-term jobless don’t see an interruption in their unemployment checks and Medicare doctors don’t suffer a drastic cut in their pay.

Here’s The Hill’s take, which quotes Boehner as saying, “I don’t think this is any time for celebration.”