Extension On Payroll Tax Cuts Made Because Of Rare GOP Offer
On Monday, leadership of the House GOP announced its intention to support an extension of payroll tax cuts through the end of 2012. This, of course, will affect 2012 taxes. The GOP plans on offering its support without insisting on offsetting cuts or including unrelated policies in the bill. This bill will likely pass well before its deadline without much argument, which is something that has not happened in Congress for quite a while.
Democrats and Republicans aren’t completely happy with the extension of payroll tax cuts deal, however. The bill is more of a backup plan to keep the … Read the rest