OUR THOUGHTS ON:

What's new with the payroll tax bill?

Tax

By Ron Kramer

New – Nothing. Same old thing, Democrats and Republicans still can’t agree.

Congressional Conferees meeting on extending the payroll tax cut all say that it should be extended but they can’t agree on how to pay for it and on some of the other important matters included in the legislation like:

  • the length of time and eligibility for extending unemployment benefits (Democrats want 99 weeks, Republicans want to limit to 59 weeks), and
  • a formula for Medicare reimbursement for doctors and how to pay for it (the Doc Fix)

Senator Baucus (D-MT) suggested that if an agreement can’t be reached on policy and pay-for issues, the payroll tax cut could be extended for another short period while the Conference Committee continues to negotiate the terms. The deadline for extending the payroll tax cut legislation is February 29th.

Is that another can I hear being “kicked down the road”?

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