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GRE Business Report: December 12th

A look at the top business headlines.
The tentative budget deal may be good for the economy, but if you fly it will hit your wallet. The bipartisan deal, which was announced Tuesday, would raise the passenger security fee that helps fund the TSA's airport security efforts. Right now, that fee is $2.50 for each leg of your trip. If the deal passes, that charge would go up to $5.60 each way. That would increase a round trip fee from $5 to more than $11. Airline advocates say that while this upcharge may cover the deficit, it would do nothing to strengthen airport security or speed up long security lines. 

If Congress fails to act this week, more than one million people will lose federal unemployment benefits at the end of the year. The White House is urging Congress to extend the benefits to help the economy. Republicans say the program has already cost the country $252 billion. However, House Speaker John Boehner has suggested he is open to an extension if the White House comes up with a plan. Federal unemployment benefits kick in after state benefits run out. 

Sales of Microsoft's gaming console, Xbox One, have soared to more than two million worldwide. USA Today reports that the company says they are averaging more than 100,000 consoles every day since it debuted on November 22nd. The company says they are thrilled to see sales at a "record-setting pace." This announcement comes just a week after Sony's announcement that global sales of the PS4 had topped 2.1 million. 
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