Payroll Tax Cut Extension –

The Senate passed a two month extension of the payroll tax cut.  On Saturday, the measure passed the Senate with a vote of 89-10.  The payroll tax cut amounts to a two percent drop from 6.2% to 4.2%.   An increase in fees for new mortgages backed by Fannie Mae and Freddie Mac will cover the cost of the tax cut.

To read a related MSNBC article, please click here:

James Sutliff

This entry was posted in 2012, Administrative, Budget, Business, Congress, Democrat, Economy, Election, General, Politics, Republican, Tax. Bookmark the permalink.