KKTV - Economy - Headlines

Boehner To Senate: Let's Bargain On Payroll Tax

By: AP
By: AP
The President is calling on the Speaker of the House that he is willing to work on a full-year extension of a payroll tax cut if the House passes a short-term extension.

AP

WASHINGTON (AP) -- President Barack Obama has told House Speaker John Boehner he is committed to starting work immediately on a full-year extension of payroll tax cuts if the House passes a short-term compromise.

Boehner called Obama Thursday morning. The White House says Obama told the speaker that the only viable option for preventing the tax cuts from expiring at the end of the year is for the House to pass a two-month extension.

The Senate overwhelmingly approved the two-month extension last week. But the House has refused to approve the measure, saying it preferred a full one-year extension.


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