February 14th, 2012
08:46 PM ET
3 years ago

Tentative payroll tax cut deal reached, GOP legislators say

Washington (CNN) – Congressional negotiators reached a tentative deal Tuesday to extend the payroll tax cut and unemployment benefits while avoiding a fee cut for Medicare doctors, according to Republican legislators and aides.

The framework deal followed a key Republican concession Monday and could receive the endorsement of a House-Senate conference committee on Wednesday.

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Filed under: Congress • President Obama • Taxes
soundoff (4 Responses)
  1. Larry in Houston

    It's about time – maybe the GOP'ers are finally coming around – maybe they think if they don't start working with the President, and be a little more "bi-partisan" they might be Voted Out – next time

    February 14, 2012 09:51 pm at 9:51 pm |
  2. A Texan

    Republicans know they couldn`t possibly win on this one.

    February 14, 2012 10:07 pm at 10:07 pm |
  3. chuck weidemann

    About time the "leadership" of the house listened to the people back home who put them in office! Obama asked people to let congress know what was up and I get the feeling they did!!! One thing for certain it was not the kindness in there hearts or agreement with the president and his policy.... No just pressure application by a wise leader who put them in a corner that they could not escape. Well done Mr President keep up the good work for All Americans.

    February 14, 2012 10:37 pm at 10:37 pm |
  4. J.V.Hodgson

    Well to some degree at least the Republican leadership ( not the tea party element) have got the message from the people on keeping this tax reduction. But watch out, they are going to play with the time frame only the current budget year not December and various other stings in the tail to keep TPer's happy.
    Independent that I am I think these tea party supporters in the house should be careful how they cast thier vote on this. A vote against to me would mean most would not be re-elected.
    I still cannot understand why Republicans do not listen not only to " the people" but also many of the very rich who say Income taxes should be higher but beware here most of thier money comes from types of money taxed only at 15%dividends and capital gains, and that is where the tax the rich hit should be targeted.
    The idea that stops job creation is nonsense. a company big or small shares its ultimate wealth income/profit after1) corporate tax between 2) owners and shareholders ( dividends) and 3) so called income re-invested whose purpose is to finance corporate growth and investment.... which creates jobs.
    Allowing the rich to keep 85% of dividend or capital gains is costing us all billions in higher national debt and interest payments. far better to for a few years at least to Tax it all at 30 % and use most to pay off national debt. Yes government cost cuts neede across the board but not in a draconian way that creates further unemployment and poverty.the American economy is 70 consumer demand based, if the middle class dont have free spending cash this economy does not grow but when it does tax revenues rise at that point you can soend it stimulating the econmy Infrastructure, education energy research / alternatives which creates more jobs and more taxes and more consumer demand.
    They are fooling no -one by saying they made this payroll tax cut happen for the middle class. what utter rubbish.
    Lets not be fooled Pure Austerity cuts hurt low income an middle classs and below poverty line people most. The rich as always ride out the storm, they only need to sell the odd yacht or have only two cars instead of 3, or increase thier medical insurance co pays for a while to lower premiums for the 7 kids families many seem to have..
    Regards,
    Hodgson.

    February 14, 2012 11:56 pm at 11:56 pm |