In surprise move, GOP leaders admit defeat in payroll tax battle - CSMonitor.comIn surprise move, GOP leaders admit defeat in payroll tax battle
House GOP leaders had wanted to offset the cost of a payroll tax extension by spending cuts. But their decision Monday suggests that the political cost of a stalemate was too high.
By Gail Russell Chaddock, Staff writer / February 13, 2012
The move, which would keep payroll taxes at their current 4.2 percent rate through 2012, is expected to add another $83 billion to federal budget deficits. Republicans had wanted to offset that amount through spending cuts.
GOP finally gave in to the Democrats and allowed a tax cut for the working class. I had expected them to fight against it harder than they did, but I guess it's a tight rope to walk when you're fighting against tax cuts for working people, and fighting against tax increases for super-rich people, especially when working people are having a very, very difficult time of it.
It was fun to watch them fight against tax cuts during an election year, but it's good that they've finally capitulated and agreed to allow it.