WASHINGTON (AP)-the leaders of the Congress of the Republic stressed the willingness Wednesday to extend the social security payroll tax cut due to expire on 31 December, setting up a showdown with Democrats about the end of the year how to pay for provisions in the heart of President Barack Obama’s jobs program.
“We just think we shouldn’t punish job creators to pay for it,” said Senate Republican Leader Mitch McConnell, scorning the Democratic proposal to raise taxes on low incomes of millions of dollars.
On the contrary, the Senate of the Republic called for the gradual reduction of the size of the federal bureaucracy, as well as measures to ensure that the earnings of millions of dollars do not benefit from unemployment benefits or food stamps. They also recommended increase Medicare premiums for individuals with incomes over $ 750,000 per year.
House Speaker John Boehner firmly say that the tax cut extensions would be offset by cuts elsewhere in the budget to avoid raising federal deficits. Many Republican officials noted that Obama has been saying the same thing applies to the plan, he launched in a nationally televised speech to Congress in September.
The events in Congress, coupled with Obama’s appeal for fresh cut payroll tax updates while speaking Wednesday in Scranton, PA., pointed out that leaders in both parties want to find a compromise for less than a week after high-profile Congress supercommittee failed to find common ground related issues of the economy, plans to reduce the deficit.