Payroll Tax Cut Impact: What If It’s Not Extended? | CNN Money
House Republicans on Tuesday rejected the the two-month payroll tax extension passed by the Senate. But they did so indirectly.
Rather than bring the bill to the floor for a direct vote — and risking the measure actually passing — they voted to instruct House negotiators to push for a year-long extension in a conference with the Senate.
The problem is that Senate Majority Leader Harry Reid has said there would be no further negotiations until the House passes the temporary two-month extension to insure the tax cut doesn’t lapse after Dec. 31.
Welcome to the latest, completely willful congressional standoff.
