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mali1989's blog: "mali1989"

created on 12/11/2011  |  http://fubar.com/mali1989/b345232

A tax break for 160 million American workers was in doubt on Monday in the face of strong opposition from Republicans in the House of Representatives who have rejected a two-month extension overwhelmingly approved by the Senate over the weekend.House Speaker John Boehner, the top Republican in Congress, marc jacobsdemanded a fresh round of bargaining with the Democratic-controlled Senate to extend the payroll tax break through the 2012 election year. Angry Democrats accused him of reneging on a deal brokered by Senate Republican leader Mitch McConnell and his Democratic counterpart Harry Reid. The two eked out a modest two-month extension on Friday after failing to break a deadlock over how to pay for the tax break for a full year.The Senate passed the measure by 89 votes to 10 on Saturday. The House is set to vote on it on Monday, but the strong opposition of House Republicans means they will most likely try to amend the Senate bill or seek the negotiations demanded by Boehner. Either way, it will be difficult to settle differences between the two parties with less than two weeks left before the tax break expires. marc jacobs bagsWithout congressional action the tax workers pay into the Social Security federal retirement program will rise to 6.2 percent on January 1, from 4.2 percent. The end-of-year fight, which many had thought had ended with the Senate deal on Friday, will further deepen widespread perceptions of dysfunction in Washington."This just adds to the level of frustration with business as usual in Washington, and the general sense around the country that Congress is playing politics with our economic fate," said Scott Anderson, a senior analyst at Wells Fargo. The Senate bill also extends an expiring jobless benefits program for the long-term unemployed and averts a pay cut in January for doctors treating patients in the Medicare health insurance program for the elderly.It includes a provision demanded by House Republicans that would force Obama to accelerate a decision on TransCanada Corp's Keystone XL oil pipeline project, marc jacobs bags cheapwhich is backed by some labor unions but opposed by environmental groups. In a conference call with House Republicans on Saturday, Boehner painted this as a victory for House Republicans because Obama had strongly opposed efforts to link Keystone with the payroll tax cut. But the "sweetener" was not enough to quell overwhelming opposition to the Senate bill. (Additional reporting by William Schomberg in New York)

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