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Senate Approves Payroll Tax Cut, Unemployment Benefits

December 23, 2011 by  

Senate Approves Payroll Tax Cut, Unemployment Benefits

The Senate has approved a two-month renewal of payroll tax cuts for every worker and unemployment benefits for millions, The Associated Press reported.

According to the news outlet, the adoption of the measure buys time for negotiations at the beginning of next year on how to pay for a year-long extension of the two percentage point payroll tax cut.

The AP reported that this move would boost the average paycheck of the average worker making an annual salary of $50,000 by up to $20 a week.

House leaders are looking to approve the measure as well, as the goal is to call up the bill using an expedited process that would not require lawmakers to return to Washington for a traditional roll-call vote, according to Fox News.

The news outlet reported that although the plan is for an ultra-quick voting process, the outcome is contingent on there being no objections from lawmakers on the floor.

President Barack Obama noted that this was the only way to ensure taxes won’t go up on January 1, according to Fox News.

“This is good news, just in time for the holidays,” Obama said in a written statement. “This is real money that will make a real difference in people’s lives.”

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  • cawmun cents

    “Never let it be said that Democrats wont waste trillions,to save millions.”-CC.

  • http://gillysrooms.blogspot.com GILLYSROOMS in Australia

    Has anyone worked out what the US government value of all its assets would be in Land, Buildings, Equipment, motor vehicles, trucks, aircraft, satelites, submarines, scrap metal value of old equipment, airports, tollways, computer equipment, intellectual property rights, copywrites, research findings, buses, trains, railway tracks, ships, aircraft carriers, crown land, parks, gardens in prime towns,forests, oil reserves , mining resources, un-mined gold reserves in the ground in california etc ? Does the government put those assets in their federal butget papers to show that those deficits are covered by ALL their assets? I bet they dont…and I wish they did….so you Republicans might realise that the economy is not that bad off it cant afford to borrow and print some more to help your needy poor and your needy rich to make money out of your needy poor who spend all their free money on your goods and services….HAPPY NEW YEAR and hopefully you’ll feel better in the new year when you realise you been worrying too much about your federal government finances….unless of course all those assets have been stolen by your leaders as they do in dictatorial countries overseas… ?

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