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Loaded-Up Payroll Tax-Cut Bills Set to Collide in Congress

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jpak Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 10:55 AM
Original message
Loaded-Up Payroll Tax-Cut Bills Set to Collide in Congress
Source: Businessweek

Dec. 9 (Bloomberg) -- U.S. House Speaker John Boehner and Senate Majority Leader Harry Reid are poised for a collision next week of their bids to extend or expand a payroll tax cut for workers.

House Republicans rallied yesterday behind a plan Boehner is preparing that would pair an extension of the current payroll tax cut with eased restrictions on some industrial emissions and expedited approval of an oil pipeline from Canada. Reid is focused on expanding cuts to the worker payroll tax and using a surtax on annual income exceeding $1 million to pay for it.

Both leaders agree on extending the Social Security payroll tax cut in some manner, addressing expanded unemployment benefits that will lapse at the end of the year, preventing cuts to physician reimbursements by Medicare and approving some spending reductions. Their differences over how to pay for a comprehensive package, along with some of their priorities, present procedural hurdles -- such as the need for 60 votes to avoid a filibuster -- that are tough to clear, said Senate Budget Committee Chairman Kent Conrad, a North Dakota Democrat.

At this moment, I dont see the formula that gets 60 votes, he said. Im still hopeful that we will.

<more>

Read more: http://www.businessweek.com/news/2011-12-09/loaded-up-p...
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old guy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:32 AM
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1. Typical repub delay tactics.
They will throw everything into the process as they are convinced by past actions the Dems or the Pres. will cave in the 11th hour.
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DallasNE Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 11:52 AM
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2. The Silly Thing About The Keystone Pipeline
Is that TransCanada has not even determined what route the pipeline will take following the rejection of the first route selected due to pushback from the Republican Governor of Nebraska and others that would have the pipeline pass through their States.

Once a new route is determined it will need to go through a review process, just like the failed route, with unknown consequences. This ready, fire, aim approach makes no sense. Besides, do we know that the tar sands are economically feasable enough to be worthwhile. This is a classic case of putting the cart ahead of the horse.
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Fuddnik Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 12:03 PM
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3. Fuck the payroll tax cut.
It was a bad idea in the first place. A long time right-wing plan to defund Social Security.

Remove the cap and raise taxes on the rich.
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