Pessimism High, Republicans Warn of Possible Expiration of Payroll Tax Cuts

On Friday, February 10 the New York Times published an article Pessimism High, Republicans Warn of Possible Expiration of Payroll Tax Cuts

I think many countries have a problem about a payroll tax cut. This news shows the different opinions about expiring tax cut between Republicans and Democrats. The news said “Congressional Republicans told negotiations over extending a payroll tax cut were going so poorly because of the added unemployment benefits. And it could expire at the end of the month. So, republicans are seeking numerous policy changes connected to unemployment benefit like a mandatory high school equivalency program and possible drug testing for beneficiaries. But democrats have rejected out of hand, and would also reduce the benefits to 59 weeks, far less than the 79 weeks. Democrats think that voters will blame Republicans should working Americans see a sudden tax increase on their paychecks. However, many economists believe that the expirations would damage the nation’s fragile economic recovery, and Mr. Obama could well ultimately receive the blame. The committee still has another week to work out a deal, and Democrats next week are likely to make suggestions for payment options that could be more difficult for Republicans to reject out of hand, including the closing of tax loopholes.”

I think an expiration of the benefits that have advantages and disadvantage both parties. So they could agree the suggestions of other party easily. But I wish they will get the good results for ours.