Tags: US | Congress | Payroll | Tax

Senate Rejects, for Now, Extending Payroll Tax Cut

Thursday, 01 Dec 2011 09:14 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

WASHINGTON (AP) — The Senate has blocked a Democratic plan to tax the rich to pay for President Barack Obama's plan to renew — and make more generous — a payroll tax cut due to expire at the end of the month.

Republicans and a handful of Democrats teamed up to block the plan Thursday. Democrats were poised to quickly kill a Republican proposal to renew the existing 2 percentage point payroll tax holiday and pay for it with cuts to the federal workforce.

The moves are the opening steps in end-of-session maneuvering over renewing the payroll tax cut, the centerpiece of Obama's jobs plan.

Republicans have signaled they'll permit passage of at least an extension of the current tax holiday, but the two sides haven't begun negotiating over how to finance it.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Ben Carson: Americans 'Being Played' by Those Who Seek Division

Thursday, 17 Apr 2014 22:02 PM

Retired pediatric neurosurgeon Dr. Ben Carson said Thursday that Americans are "being played by those people who want to . . .

Pro-Russian Group Denies Producing Ukraine Jewish 'Registration' Leaflets

Thursday, 17 Apr 2014 15:07 PM

Ukrainian Jews leaving Passover eve prayers were handed leaflets ordering them to either register with an interim govern . . .

Bolton: Reports of anti-Jewish Leaflets Show Huge Trouble in Ukraine

Thursday, 17 Apr 2014 20:51 PM

Reports of anti-Jewish leaflets being handed out in the Donetsk province of Ukraine are a bad sign the struggle in the a . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved