As concerns circulate about a potential recession, President Donald Trump insists that the economy remains healthy. Despite those assertions, there have been rumblings that White House officials are exploring the possibility of a temporary payroll tax cut to put more money in the hands of consumers. According to reports, economists inside the White House have drafted…
Since we have plenty of time to start complaining and debating early, Congress has decided to jump right in. On tap for this month: the payroll tax cut. The what, you say? Exactly. The payroll tax cut was supposed to be a “temporary” cut in your withholding to make up for the loss of the…
Twenty-one days. That’s all the time that Congress has to fix the payroll tax before the cuts expire – and that’s only because it’s a leap year. Remember that crazy two-month long extension that Congress passed a couple of months ago? The one that Rep. Pelosi (D-CA) promised they’d fix in January? Well note to…
The payroll tax cut extensions are going nowhere fast… A vote last night by Republicans on the House rules committee will prevent a direct vote today on the Senate plan to extend the cuts by a ridiculous two months. So if you were looking for an update, go about your business today, there’s nothing to…
I was hoping to report that the Senate had taken up the payroll tax cut extension issue today and tossed out the ridiculous plan hatched last week for a two month extension. But, no. Sen. Majority Leader Harry Reid (D-NV) has indicated that the Senate will not take up the matter until the House passes…
It’s not often that you’ll see me lauding House Speaker John Boehner (R-OH) as the voice of reason but here it is: the man is one of just a handful in Congress making some sense with respect to these payroll tax cuts. Speaker Boehner is pushing for a full year extension on the cuts, saying:…
So months and months of debate on the payroll tax cut has resulted in this: a two month extension. No, you didn’t read that wrong. Two months. Democrats and Republicans in the Senate couldn’t figure out how to pay for the whole thing so they decided on a ridiculous fix. Two months. “But it’s paid…
The “naughty” list is getting longer… No, I’m not talking about Amy pinching her brother this morning while getting ready for school. I’m talking about those in Congress who are squabbling over the payroll tax cut extension all while the deadline for keeping the lights on in D.C. creeps closer. The Senate has yet to…
With the clock ticking away on the deadline for the one year payroll tax cut (this one, as it turns out, is a real deadline), Democrats and Republicans in the Senate are fighting to see who can outmaneuver each other. Both offered proposals to extend the cut today – and both proposals failed. The Democrats…