Top Bargainers Announce Payroll Tax Cut Deal

House Democratic leader Nancy Pelosi says her party is mostly satisfied with a bill extending payroll tax cuts and benefits for the unemployed. Speaker John Boehner says he supports the deal, but doesn't think it'll help the economy much.

Published

over 1 year ago

Categories

US, US Politics, Finance, Economic Policy

Topics

Finance, Economic Policy, Politics & Government, United States

People

Barack Obama, John Boehner, Nancy Pelosi

Places

United States of America

Tags

jobless benefits, tax cut, deficit, economy, unemployment benefits, us congress, us government, taxi, payroll tax, payroll tax cut, payroll tax break

Transcript

Script[Location - Date:Washington - Feb 16\][Source:Pool][VO:SOTS from Pelosi/Boehner]REP NANCY PELOSIHOUSE MINORITY LEADERIt appears that we may be shortly voting on this legislation to give a payroll tax cut to 160 million Americans without having it be offset. That was on of the pillars of the legislation that we had hope to see. We insisted on 3 things-- 1. That we have a payroll tax cut preferably unpaid for. That's in the bill Secondly, that we have compensation extending for a number of weeks respectful of the needs of our workers who are out of work at no fault of their own. That is in the bill. It doesn't have this...you have to have HS diploma in order to get unemployment benefits. The workers who have been in the workforce for a very long time that would be unfair barrier. 3. That we would enable seniors to see their doctors under medicare. That's in the bill too-- while we don't like the payfor there. We prefer another payfor and we prefer a longer period of time we recognize the bill contains the 3 features we said was necessary at least in terms of the payroll tax cut and in terms of the unemployment insurance in a way that I think is acceptable to most of us. I think it would be important to bring it up tomorrow because I don't think the American people can wait another day. REP. JOHN BOEHNERSPEAKER OF THE HOUSELast fall, I said the only reason we're talking about another payroll tax break or an extension of unemployment benefits is because the president's economic policies have failed. I still believe that to be the case today as well. The agreement that's been reached to stop a tax hike on middle class Americans is fair agreement and one that I support...Let's be honest, this is an economic relief package. Not a bill that's going to grow the economy and create jobs. Tomorrow's the third anniversary of the president's stimulus bill and yet another reminder that we need to change course and focus on pro-growth economic policies and the types of bill that for months Republicans have been passing over to the US Senate. Unfortunately, the WH has made clear that the president is finished with governing for the balance of his term so we're left with policies that not only aren't helping the economy but have made it worse.