Costs May Shorten Payroll Tax Cut

Baucus says tax cut may be extended less than a full year.

Senate Finance Committee Chairman Max Baucus said lawmakers may have to agree to an extension of a payroll tax cut for workers that falls short of a full year if they can’t reach a deal on covering the measure’s cost.

“If we cannot agree on the pay-for, we might have to look to other options for the payroll tax,” such as not extending the tax cut “for the full time,” Baucus said today at a conference committee meeting in Washington.

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