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Guest
People who are lucky enough to have jobs could still see a cut in their paychecks next month unless Congress votes to extend a payroll tax cut.
The cut is due to expire at the end of December, and twice this week the Senate rejected measures that would have preserved the tax cut or even increased it. President Obama wants lawmakers to keep trying even if they have to work through Christmas.
There was a Democratic bill which would extended and actually expanded the payroll tax cut, and it would have done it by raising taxes on income over a million dollars a year. That failed because they did get any Republican support so they couldn't clear a filibuster.
http://www.npr.org/2011/12/03/143084780/congress-tries-but-still-cant-save-payroll-tax-cuts
The cut is due to expire at the end of December, and twice this week the Senate rejected measures that would have preserved the tax cut or even increased it. President Obama wants lawmakers to keep trying even if they have to work through Christmas.
There was a Democratic bill which would extended and actually expanded the payroll tax cut, and it would have done it by raising taxes on income over a million dollars a year. That failed because they did get any Republican support so they couldn't clear a filibuster.
