The Social Security payroll tax cut should be allowed to expire at the end of this year and lawmakers should turn instead to overhauling the entire federal tax code, House Minority Leader Nancy Pelosi said Friday.
The 2 percentage point reduction in the 6.2 percent payroll tax, first enacted last year, had been a major element of President Barack Obama's proposals to rejuvenate the economy. The effort to renew it for 2012 prompted a prolonged battle with Republicans last winter, especially in the House, and resulted in an eventual GOP surrender and a major victory for the president.
There has been little talk among Democrats about reviving the payroll tax cut yet again for next year, and Obama did not propose renewing it in his 2013 budget. Even so, few Democrats until now have said openly that the measure should be allowed to lapse.
Pelosi, D-Calif., declined to tell reporters whether she would continue as her party's leader next year should they fail to gain control of the House in November's elections. The one-time House speaker said that would be up to her fellow Democrats and her family as well "after all this time." Democrats need to gain 25 seats in the 435-member chamber to become the majority, which most analysts and many politicians consider unlikely.
Pelosi, 72, has been in the House since 1987 and has been the chamber's Democratic leader since 2003. She became the first female House speaker in history in 2007.
Pelosi also said she believes that "there isn't any way on the face of the Earth" that Republican presidential candidate Mitt Romney will be elected. Most national polls show Obama with a slight edge.
Via: Breitbart
Continue Reading...
Subscribe to:
Post Comments (Atom)
Popular Posts
-
No one can blame you if you start out in life poor, because how you start is not your fault. If you stay poor, you're to blame because i...
-
MIAMI (CBSMiami) – When asked why he would risk his job and speak publicly, Detective Thomas Fiore considered the question carefully bef...
-
A Missouri woman spent six weeks trying to unenroll from Obamacare using its “navigators” and online help. Lesli Hill was stuck talking...
-
This entry was posted in Issues and tagged Obamacare . Bookmark the permalink . SHARE TWEET EMAIL Wher...
-
Rasmussen Reports, the first polling outfit to release a survey from Ohio taken after the third and final presidential debate, shows t...
-
Founding Father John Adams thought that America’s independence day celebration should be on July 2, not July 4. July 2, 1776 was day th...
-
Mitt Romney is launching a “renewed emphasis” on specifics related to policies he would advance as president, his campaign said Monday...
-
On the heels of the Supreme Court’s decision on the Defense of Marriage Act, the Treasury Department and IRS announced on Thursday that lega...
-
Mark 2013 as the year practically everyone and everything turned on President Obama , because from the NSA scandal to Syria, the White H...
-
Here’s some free market advice to GOP legislators at all levels thinking about introducing bills supporting the state health exchanges unde...
No comments:
Post a Comment