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QUICK TAKE: Obama Calls for Longer Payroll Tax Cut Extension Next Year QUICK TAKE: Obama Calls for Longer Payroll Tax Cut Extension Next Year...

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White House

Budget

QUICK TAKE: Obama Calls for Longer Payroll Tax Cut Extension Next Year

President Obama on Saturday praised the Senate for keeping the payroll tax cut alive for another two months but said it would be “inexcusable” if Congress failed to extend it again, for the full year, when lawmakers reconvene in 2012.

“It should be a formality and hopefully it’s done with as little drama as possible,” Obama said.

 

The Senate gave final approval Saturday to the final spending bills for the 2012 fiscal year, which began Oct. 1. That eliminates the possibility of a government shutdown until next fall, just before the November elections. The Senate also advanced a two-month extension of the payroll tax cut and unemployment benefits, setting up another fight over the benefits package early next year. The House considers that bill on Monday.

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