Thoughts on the Payroll Tax Extension

http://www.futureofcapitalism.com/2012/02/thoughts-on-the-payroll-tax-extension

A few points about the payroll tax extension, which the House and Senate both passed today after the Senate turned the House's two-page payroll tax extension into a 270-page Christmas tree monstrosity:

• The recapture provision I've been writing about is still gone, which is good news for taxpayers who earn more than $110,100 a year.
• Paul Ryan voted against it. The House roll call (293-132) is here.
• In voting on it, the House yet again violated Speaker Boehner's "pledge to America" that all legislation would be posted publicly online three days before a vote.
• The Congressional Budget Office scored the bill on February 16, the day before today's vote, as increasing the deficit by $101.1 billion in 2012.
• The Senate vote, 60-36, was narrow by Senate standards, where 41 votes can filibuster. Senators Kyl, DeMint, Rand Paul, Rob Portman, and Pat Toomey were among those voting no. The Senate Roll call is here.

by Ira Stoll  |  Feb 17, 2012 at 1:22 pm Related Topics:  Politics, Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list