Bloomberg News

Senate Blocks Republican Bill to Extend Worker Payroll Tax Cut

December 09, 2011

Dec. 8 (Bloomberg) -- The U.S. Senate blocked a Republican proposal to extend into 2012 a payroll tax cut for workers and cover the $119.6 billion cost by freezing pay for federal workers and reducing the government workforce by 10 percent.

With 22 senators voting for the measure and 76 against it, the bill fell short of the 60 votes needed to advance the legislation. The Senate blocked the same measure on Dec. 1.

Unless Congress acts, the 3.1 percent Social Security payroll tax for the first $110,000 of income will rise to 6.2 percent on Jan. 1.

The bill is S. 1931.

--Editors: Jodi Schneider, Don Frederick

To contact the reporter on this story: Steven Sloan in Washington at ssloan7@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net


Toyota's Hydrogen Man
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus