It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Tonight at 6:30 pm the House is set to vote on the Senate’s payroll tax cut/unemployment insurance bill. As it stands right now, it appears likely that the vote will fail due to lack of support by Boehner and other house leaders. Furthermore, Senate has said it will not present an alternative bill (as of yet). Which means that with a major portion of Q1 GDP at stake (non-renewal of payroll cuts means up to 1% of GDP being cut in Q1 2012),
HOUSE SPEAKER BOEHNER EXPECTS HOUSE TO DISAGREE WITH SENATE
BOEHNER: 'IT'S TIME TO STOP THE NONSENSE' ON SHORT EXTENSION
BOEHNER: HOUSE PASSED A 'REASONABLE BILL' ON TAX-CUT EXTENSION
BOEHNER SAYS HOUSE WILL VOTE ON SENATE PAYROLL TAX BILL TONIGHT
BOEHNER SAYS HE EXPECTS HOUSE-SENATE CONFERENCE ON TAX CUT
The House of Representatives voted 229-193 Tuesday afternoon to reject the Senate payroll tax cut agreement.
Failure to reach an agreement by the new year will result in higher payroll taxes for all Americans. The stalled measure also extends unemployment benefits, and includes the AMT "patch" and the Medicare "doc fix" — all deemed vital to the economy.