payroll taxes

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Retailers: Payroll Tax Hit Is Going to Hurt

Nearly half of consumers say they'll spend less: survey

(Newser) - Major retailers are preparing for customers with less cash in their pockets, thanks in part to the newly restored payroll tax, the Wall Street Journal reports. Rising gas prices aren't helping, either. Some 45.7% of consumers plan to spend less in the face of 2% lower take-home pay,... More »

Your Paycheck Will Be Smaller Next Week

It's all but certain that payroll tax cut will expire Monday

(Newser) - No matter what does or doesn't happen with this weekend's fiscal cliff negotiations , most Americans are going to see a smaller paycheck next week, reports the Wall Street Journal . That's because neither party is still talking about extending the 2-year-old payroll tax cut, which expires on Monday,... More »

Psst, Taxes Go Up Next Year for 163M Workers

Neither party plans to extend the payroll tax break

(Newser) - President Barack Obama isn't talking about it and neither is Mitt Romney. But come January, 163 million workers can expect to feel the pinch of a big tax increase regardless of who wins the election. A temporary reduction in Social Security payroll taxes is due to expire at the... More »

The Payroll Tax Cut Is Doomed

No matter who wins in November

(Newser) - No matter who wins in November, your taxes are probably going up next year. That's because Congress has basically no interest in extending the payroll tax holiday that was so hotly contested earlier this year, the New York Times reports. Negotiators are fixated on the so-called "fiscal cliff,... More »

DC Silent as Payroll Tax Cut Chugs Toward Expiration

No one going to bat for stimulus measure

(Newser) - Less than a year ago, the White House was vigorously campaigning to extend the payroll tax cut, leading to a pitched showdown in Congress. Now, no one seems to care about it, the Wall Street Journal observes. The Obama administration is perfectly content to let the cut, enjoyed by 122... More »

What Mitt Romney's Not Saying About Social Security

Gail Collins on the real way to fix the system

(Newser) - Mitt Romney recently gave a speech on Social Security, and no one noticed—people were distracted by all the empty seats. But Gail Collins was listening. "Romney has several ideas for Social Security, all involving cuts in benefits," she reports in the New York Times . Chief among them:... More »

Congress Sends Payroll Tax Cut to Obama's Desk

House, Senate easily approve extension

(Newser) - No last-minute Capitol Hill surprises: Congress today passed legislation renewing a payroll tax cut for 160 million workers and jobless benefits for millions more, backing the main items on President Obama's jobs agenda in a rare burst of Washington bipartisanship. The Senate approved the $143 billion measure by a... More »

Government to Auction Off Public Airwaves

Payroll tax compromise could lead to faster wireless speeds

(Newser) - Congress is expected to approve a bill that would sell off public airwaves currently used for television to wireless Internet companies, speeding up broadband for mobile devices across the country, while at the same time creating a long-sought-after national communications network for emergency services. What is this revolutionary communications bill?... More »

Congress Strikes Payroll Tax Deal

Pension, health care issues final sticking points

(Newser) - Congressional negotiators have reached a deal on a $150 billion economic bill that will extend the payroll tax holiday through the end of the year, while also extending unemployment benefits and preventing an automatic cut in doctors' Medicare reimbursements. Congress could vote on the bill as soon as today, the... More »

Payroll Tax Deal: $20 a Week in Paychecks

Tentative deal emerges in House-Senate talks

(Newser) - House-Senate talks on renewing a payroll tax cut that delivers about $20 a week to the average worker yielded a tentative agreement today, with lawmakers hopeful of unveiling the pact tomorrow and sending the measure to President Obama as early as this week. Under the outlines of the emerging agreement,... More »

House GOP Caves, Backs Payroll Tax

Boehner and Co. say they'll accept tax cut without paying for it elsewhere

(Newser) - House Republican leaders have surprised and angered rank-and-file lawmakers by abruptly backing down from demands that a 10-month extension of the payroll tax cut be paid for with cuts elsewhere. GOP leaders are wary of holding up a tax cut for 160 million Americans in an election year, Politico notes,... More »

GOP Fell Into Democrats' 'Trap' on Payroll Tax

Looked 'heartless' as Obama seized advantage: Charles Krauthammer

(Newser) - Republicans really blew it in the payroll tax debate—both in terms of policy and politics, writes Charles Krauthammer. For one thing, the two-month extension simply doesn't make sense: It requires businesses to plan for "two-thirds of a one-quarter tax-holiday extension." More importantly, for Democrats, it was... More »

House Passes Payroll Tax Cut Extension

Measure heads to Obama for his signature

(Newser) - Americans will have something additional to toast to on New Year's Eve: The first day of 2012 will begin with the payroll tax cut firmly—albeit temporarily—in place. The House today green-lighted a two-month renewal of the cut and unemployment benefits, passing it by a voice vote in... More »

House Expects to Clear Payroll Tax Cut Today

Though it's possible dissenting members could delay things

(Newser) - The payroll tax cut deal is expected to be ratified today, with congressional leaders planning voice votes that would require just a handful of members to be present, the Washington Post reports. Politico notes that the House will be using unanimous consent rules, however, meaning a dissenting member could force... More »

House Frosh May Balk at Payroll Deal

Angry Republicans could force House to reconvene

(Newser) - Most members of Congress have already headed home for the holidays, but a few freshmen Republicans in the House are so unhappy with the last-minute payroll tax deal that they might return to Washington to try to derail it. At least two freshmen legislators (Mo Brooks and Mike Kelly) have... More »

House GOP Agrees to Payroll Tax Cut Deal

John Boehner reluctantly agrees to two-month extension

(Newser) - Get ready for a lot of "Boehner blinks" headlines. House Republicans have agreed to a two-month extension of the payroll tax cut after all, reports CNN . "Senator Reid and I have reached an agreement that will ensure taxes do not increase for working families on January 1,"... More »

Obama to House: 'This Is About People'

President raises pressure for payroll tax cut

(Newser) - President Obama tried to turn the screws a little tighter on House Republicans today by showcasing people who said they'd be hurt if the payroll tax cut fails to go through. He again used the $40 argument , the average amount people would lose from their paychecks, reports the AP... More »

Out of Congress, Ideas but No Compromise

Mitch McConnell, John Boehner, Dave Camp talk payroll tax cut

(Newser) - The theme of the day is compromise—at least, politicians offering their ideas about what a compromise should look like, without deciding to actually compromise. Senate Republican leader Mitch McConnell came out with one of his own, in what Politico describes as "a blow to House Republicans." McConnell'... More »

Americans to Congress: Do Your Job

Public frustration over gridlock, politics hits new highs

(Newser) - Congress has been extremely unpopular for some time , but Washington's inability to pass a payroll tax cut extension before adjourning for the holidays appears to have people disgusted like never before, reports the AP . "It's just another smack in our face for the working public. We just... More »

If Payroll Tax Cuts Expire, Here's What Happens...

...according to economists, who share their forecasts with WaPo

(Newser) - We know the "what": The payroll tax cut is set to expire within days, meaning changes to jobless benefits and doctors who treat Medicare patients will kick in, and the average American will miss out on $40 a paycheck . The Washington Post explores the "what does it mean"... More »

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