Payroll tax cut fight may be over soon
Word comes from Congress that an agreement on the payroll tax cut may be reached soon. The tax cut, meant to stimulate the still sputtering economy, is due to expire this month, in effect raising workers’ taxes a bit. Voices supports extending the payroll tax, so the news that the House won’t obstruct extension is heartening. Jobless benefits will likely be extended as well, and the Medicare reimbursement rate increased.
Voices was at a meeting with President Obama today in which the administration featured stories of ordinary Americans who’ve been helped by the payroll tax cut. In a briefing room for policy advocates, Obama made the case that failing to extend the payroll tax cut would cost a family making $50,000 a year about $40 from each paycheck. You can learn more about the issue in our recent Speaking Out!