Payroll Tax Cut: 12 Days Till Tax Hike
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.
Follow Roland Martin Reports on Twitter
Follow Roland S. Martin's Timeline On Facebook
Get Roland Martin Reports in your inbox!
Sign up for Roland Martin Reports Daily News Update powered by FeedBurner
