Schumer: Dems will push payroll tax break extension until it passes

[cal04]

http://thehill.com/blogs/on-the-money/domestic-taxes/195531-schumer-will-keep-pushing-payroll-tax-cut-extension-until-it-passes

Democrats in the Senate will push a plan this week to extend an expiring payroll tax cut, making up the lost revenue by imposing a surtax on Americans earning more than one million dollars, said Sen. Charles Schumer on Sunday.

"The first thing we're going to do when we get back this week is put the payroll tax holiday on the floor in the Senate," said Schumer (N.Y.), the number three Democrat in the Senate, on NBC's Meet the Press.

(snip)
"If it doesn't pass once, we're going to put it on the floor again and again," Schumer said.

The tax cut extension is one part of the jobs plan that Obama is now pushing piece-by-piece after Republicans refused to swallow it as one piece of legislation. The White House said last week that average middle-class Americans would see their taxes hiked by $1,000 next year if the cut isn't extended. Under the expansion of the cut Obama is seeking, those families would pay $1,500 less next year.

[Name removed]

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[DJ13]

2. I wish they had pushed this hard for the 'Making Work Pay' credit when it expired

That credit was more targeted at those who most needed the extra money than the current payroll credit.

The payroll credit increases with pay, the MWP credit helped those at the bottom.

Not only was it getting a greater amount of money to those at the bottom, as a lump sum it generated far higher consumer spending.

[FreakinDJ]

3. If they only fought the Bush Tax Cuts as vigorously we wouldn't have the deficit

[Vincardog]

4. hose families would pay $1,500 less next year. And this will help SS HOW?

[Angry Dragon]

5. It is a dumd idea, both times and now this time

[theophilus]

6. Very bad idea, imo. I'm losing much respect for Chuck. n/t

[Pirate Smile]

7. DU is so odd sometimes. The Republicans are going to insist on taxes going up for the working and

middle class to protect the rich and people are bashing Chuck for that.


Sen. Kyl: Payroll tax cut extension wrong way to boost job creation

By Josh Lederman - 11/27/11 10:37 AM ET


Sen. Jon Kyl (R-Ariz.) gave a bleak assessment of the usefulness of extending an expiring payroll tax cut on Sunday, offering a preview of the next fight likely to embroil Congress.

"The payroll tax holiday has not stimulated job creation. We do not think that is a great way to do it," Kyl said on Fox News.

Kyl, who served on the supercommittee, said it didn't make sense to impose a higher tax on those who create jobs, preempting the argument from Democrats that additional stimulus measures should be paid for by increasing the tax rate on wealthier Americans.

http://thehill.com/blogs/on-the-money/domestic-taxes/195519-kyl-payroll-tax-cut-extension-the-wrong-way-to-go

[ben_thayer]

8. Agreed...

To me, this looks like Good news...?!

:shrug:

[Itchinjim]

9. +1

[woo me with science]

10. Fucking Republicans. nt