Source: Jeanne Sahadi / CNN Money
NEW YORK – House Republicans on Tuesday are expected to reject the the two-month payroll tax extension passed by the Senate. But they have chosen to do so indirectly.
Rather than bring the bill to the floor for a direct vote — and risking the measure actually passing — they will vote to instruct House negotiators to push for a year-long extension in a conference with the Senate.
The problem is that Senate Majority Leader Harry Reid has said there would be no further negotiations until the House passes the temporary two-month extension to insure the tax cut doesn’t lapse after Dec. 31.
So, in 12 days, unless lawmakers figure a bipartisan way out, the payroll tax cut that has saved a typical household $1,000 this year will expire.
To read this article in its entirety visit CNN Money.
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