Senate Majority Leader Harry Reid, D-Nev., on Monday outlined a new Democratic propoPost Tagssal to expand a payroll-tax cut for employees while tweaking how the bill is paid for in a nod to Republican concerns.
Democrats will scale back a bill rejected in a Senate vote last week by eliminating proposed payroll-tax benefits for employers. The new bill will leave in place a proposal to cut the payroll-tax rate for employees from 4.2 percent to 3.1 percent, Democrats said. That will lower the cost of the plan from $265 billion to $180 billion, in an attempt to address GOP concerns about the measure’s overall cost.
Do you realize that the more congress cuts the Pay-roll tax, the more money tey are taking out of our Social Security accounts. Tell them to STOP.(Read More)