December 14th, 2011|
A ticking reminder–a countdown clock–for the looming tax increase is kept on the White House website, according to the Birmingham News.
But it does not seem to be making Congress move any faster. Nothing has yet come close to a bipartisan compromise.
So far the payroll tax debate has centered on how to help the government make up for the revenue that would be lost by continuing the tax cut.
A Democratic representative said that she supported an extension of the payroll tax cut and the extension of unemployment that is likely to go along with it.
“I think the people of my district are hurting, and I think we should stay here and not go home for the holidays until we’ve done both,” she said.
One Republican representative insists that the payroll tax cut must be offset by some other new revenue or spending decrease.
“Now, with people losing their jobs last year, you could make an argument that it helped Americans at the right time. But you also have to admit that we’ve dug Social Security in a deeper hole.”
Another Republican representative said that he thinks this should be the last extension of the payroll tax cut because Social Security needs to be protected.
“We have to all agree a year from now that this is not going to happen again,” he said.