POLITICAL SPEECHES & DOCUMENTS
OBAMA PRESIDENCY & THE 112TH CONGRESS:
IN FOCUS: HOUSE LEADERS AGREE TO THE SENATE’S PAYROLL TAX EXTENSION PLAN
Deal reached on payroll tax cut extension, sources say: A tentative deal has been reached under which House Republicans would accept the Senate’s two-month extension of the payroll tax cut, Senate sources say.
A conference call of House members is scheduled Thursday evening to finalize the arrangement.
House Republican Leaders Agree to Payroll Tax Deal: Bowing under intense pressure from members of their own party to end the politically damaging impasse over a payroll tax holiday, House Republican leaders on Thursday agreed to accept a temporary extension of the tax cut, beating a a hasty retreat from a showdown that Republicans increasingly saw as a threat to their election opportunities next year.
Under a deal reached between House and Senate leaders — which Speaker John A. Boehner was presenting to the rank and file in an evening conference call — House members would accept the two-month extension of a payroll tax holiday and unemployment benefits approved by the Senate last Saturday while the Senate would appoint members of a House-Senate conference committee to negotiate legislation to extend both benefits through 2012…. – NYT, 12-22-11
POLITICAL QUOTES & SPEECHES
President Obama: “This is Good News”
Source: WH, 12-22-11
For weeks, President Obama has pressed Congress to come to an agreement to extend the payroll tax cut into 2012. This afternoon, that’s exactly what happened.
In a statement, the President praised the good news:
For the past several weeks, I’ve stated consistently that it was critical that Congress not go home without preventing a tax increase on 160 million working Americans. Today, I congratulate members of Congress for ending the partisan stalemate by reaching an agreement that meets that test.
Because of this agreement, every working American will keep his or her tax cut – about $1,000 for the average family. That’s about $40 in every paycheck. Vital unemployment insurance will continue for millions of Americans who are looking for work. And when Congress returns, I urge them to keep working to reach an agreement that will extend this tax cut and unemployment insurance for all of 2012 without drama or delay.
This is good news, just in time for the holidays. This is the right thing to do to strengthen our families, grow our economy, and create new jobs. This is real money that will make a real difference in people’s lives. And I want to thank every American who raised your voice to remind folks in this town what this debate was all about. It was about you. And today, your voices made all the difference.