House GOP vows to reject payroll tax cut extension

Millions of residents throughout the borough and the country could see a tax hike in the new year as House GOP leaders vow to reject

THE BRONX - Millions of residents throughout the borough and the country could see a tax hike in the new year as House GOP leaders vow to reject a payroll tax cut extension plan.

The Senate passed the bipartisan measure Saturday night to extend cuts for two months in hopes of giving both sides more time to reach a long-term deal. The cuts are set to expire Dec. 31, and if lawmakers don't reach an agreement, workers could pay an additional $1,000 in taxes annually.

President Barack Obama has voiced his support for the extension. He has also decided to delay the start of his holiday vacation until the issue is resolved.

Representatives in the Senate left Washington for the holidays after signing the extension proposal, and they aren't scheduled to return until Jan. 23.

advertisement | advertise on News 12

Trending Video

VIDEO: Scenes from fatal accident 1 VIDEO: Scenes from fatal accident
2 Neighborhood Brief for Feb. 19
A new affordable housing complex in Melrose opened 3 Tenants welcomed to new Melrose Avenue Apartments
Residents in Soundview Park shed their winter jackets 4 Residents shed winter wear, enjoy warmer temperatures
Furry Friends for 2/17 - Animals for Adoption 5 Furry Friends for 2/17 - Animals for Adoption

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE