Taxes, Payroll Tax Cut | featured news

Consumers will have to dig deeper into their pockets next year to pay for costlier healthcare, more expensive grocery bills and higher taxes, an extra drag on the country's already slow-moving economy.

Barack Obama is calling on Congress to extend a payroll tax cut for the remainder of the year as a deadline nears for Congress to act or see taxes go up for millions of working Americans.

Republicans in the House on Tuesday rejected the Senate's two-month extension of an expiring payroll tax cut, and moved toward initiating formal talks with Democrats on a final deal.

As President Obama wrestles with congressional Republicans over an extension of the payroll tax cut, a new poll suggests that Obama is winning ...

President Obama's aides are seeking to pressure House Republicans in the hours leading up to a vote tonight on a two-month extension of the payroll tax cut, saying an adverse decision will subject nearly 160 million Americans to a tax hike next year.

Senate Majority Leader Harry Reid (D-Nev.) plans to introduce a compromise measure Monday to extend the payroll tax cut, according to a key Senate Democrat. “Majority Leader Reid called me yesterday and said he will propose tomorrow a compromise plan to extend the payroll tax cut,” Senate Budget Committee Chairman Kent Conrad (D-N.D.) said on “Fox News Sunday.” “He will offer it at that point – I don’t think it’s probably in my purview to announce his plan – but he indicated to me it will be paid for. It will be paid for in a serious way.”

President Barack Obama on Friday pledged an aggressive push to pass an extension to the payroll tax cut for U.S. workers, saying lawmakers must not leave for their holiday break without taking action on it.