House Version of Payroll Tax Bill A Better Deal for America
Under the House-passed payroll tax cut bill, an American worker earning $50,000 next year is 100 percent certain to receive a $1,000 payroll tax cut. By comparison, the legislation passed by the Senate on Saturday would grant only a $167 payroll tax cut to the same worker. Despite Senate Democrats’ insistence that they will work to extend the payroll tax cut beyond February of next year, there is no guarantee that they will make good on their word. As recent history shows, Senate Democrats don’t exactly have a stellar record of acting on job-creating measures.The table below highlights the numerous other ways the American people would benefit if the Senate passed, and the President signed, the House version of this legislation.