Tags: US | Payroll | Tax | Obama

Obama Signs 2-month Payroll Tax Cut Extension

Friday, 23 Dec 2011 02:55 PM

 

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

WASHINGTON — President Barack Obama has signed legislation extending a payroll tax cut for two months. The action concludes an end-of-year drama that split Republicans and threatened a tax hike on 160 million Americans.

Obama acted Friday after the House and Senate approved the tax cut extension, which will maintain the Social Security tax at 4.2 percent. The legislation also extends unemployment insurance for jobless workers and forces Obama to make a decision within 60 days on whether to permit construction of an oil pipeline opposed by environmental groups.

"I said it was critical for Congress not to go home without preventing a tax increase on 160 million working Americans and I'm pleased to say that they got it done," a buoyant looking Obama said at the White House before dashing off for his delayed holiday vacation to his home state of Hawaii.

By signing the bill, Obama capped nearly a week-long standoff with House Republicans who demanded a full-year extension. Under a deal reached Thursday, House and Senate leaders named negotiators to begin working on a longer-term bill.

© 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 This material may not be published, broadcast, rewritten or redistributed.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
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Reagan Astrologer, Joan Quigley, Dies at 87

Saturday, 25 Oct 2014 00:11 AM

Joan Quigley, the astrologer who helped determine President Ronald Reagan's schedule and claimed to have convinced him t . . .

Mali's First Ebola Case, A 2-Year-Old Girl, Dies

Friday, 24 Oct 2014 23:08 PM

A two-year-old girl who was Mali's first case of Ebola died on Friday, shortly after the World Health Organization warne . . .

US General: North Korea Closer to Building Nuclear Weapon

Friday, 24 Oct 2014 22:53 PM

Gen. Curtis Scaparrotti, commander of U.S. forces on the Korean Peninsula, said Friday that North Korea is moving closer . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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