Congress is bracing for a final fight over fiscal policy this year, with the fate of a payroll tax cut for 160 million U.S. workers on the line, after House Republicans balked at a deal worked out in the Senate.
The House of Representatives returns to Washington today to either change a Senate-passed bill extending the tax cut through February or seek a House-Senate meeting to resolve differences between the two chambers. The Senate passed its plan by 89-10 two days ago. The 2-percentage- point cut in the payroll tax will expire Dec. 31 if Congress doesn't agree to extend it.
"Two months is just kicking the can down the road," House Speaker John Boehner, an Ohio Republican, said on NBC's "Meet the Press" yesterday. "The American people are tired of that. I think — frankly, I'm tired of it."
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
