Republicans Want Temporary Payroll Tax Cuts To End As Planned - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

Republicans Want Temporary Payroll Tax Cuts To End As Planned


  WASHINGTON (AP) - Congressional Republicans want to raise your
taxes.
      Impossible, right? GOP lawmakers are so strongly anti-tax,
surely they will fight to prevent a payroll tax increase on
virtually every wage-earner starting Jan. 1, right?
      Apparently not.
      Many of the same Republicans who fought so hard to keep the
Bush-era income tax cuts from expiring on schedule are now saying
the temporary payroll tax cut should end as planned.
      Workers normally pay 6.2 percent of their wages toward a tax
designated for Social Security. Their employer pays an equal
amount.
      Last year, Congress approved President Barack Obama's request to
reduce the workers' share to 4.2 percent for one year. Obama wants
Congress to extend the reduction for an additional year.

Powered by Frankly