Senate Democrats offer a payroll tax cut compromise

by Colonel on December 5, 2011


“A Senate Democratic aide told CNN Monday that Senate Majority Leader Harry Reid will announce a new proposal to extend the payroll tax cut before it expires at the end of the year.

President Barack Obama quickly urged Republicans to join Democrats in passing a payroll tax cut extension, saying it was time to do what’s right for the majority of the country by asking the wealthy to pay a little more.

Noting a pledge by congressional Republicans against increasing taxes, Obama said those same legislators now were opposing a measure that would result in higher taxes for 160 million Americans.

“How could it be that the only time there’s a catch is when it comes to raising taxes on middle class Americans?” Obama said in a statement to reporters at the White House. “It doesn’t make sense.”" — Kate Bolduan, Copyright 2011 Cable News Network

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