President Obama renewed his call Thursday for the House of Representatives to pass a two-month extension of the cut in Social Security payroll taxes and unemployment insurance benefits which Congress enacted a year ago.
The only reason the impasse continues is because “a faction of House Republicans have refused to support this (two-month) compromise,” Obama said at a press conference Thursday afternoon, where he was surrounded by several Americans the White House had recruited to support Obama.
The president cited some specific people such “Joseph from New Jersey” who would have to sacrifice a pizza night with his children. “This is insurance to ensure that our recovery continues,” he said, adding that the impasse is “exactly why people get so frustrated with Washington.”
For worker making $60,000 a year, a two-month payroll tax cut would mean $200 in additional take-home pay, or about $25 per week.
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via NBC Politics – Obama renews call for end to payroll tax impasse.