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Wal-Mart worried payroll tax could cut consumer spending

Why is Wal-Mart worried? Payroll tax could cut consumer spending. Retailers are preparing for a triple whammy as the restoration of the payroll tax, surging gas prices, and stagnant employment and wages take a bite out of consumers’ disposable income, leaving them with less cash to spend on clothing, groceries,…

Republicans propose not paying for payroll tax

WASHINGTON (Reuters) – Republicans in Congress on Monday proposed extending a tax cut for 160 million workers through the rest of the year without offsetting the cost with spending cuts elsewhere in the budget. As first reported by Reuters, Republican leaders in the House of Representatives issued a statement saying…

Boehner ‘may’ hold payroll tax cut hostage over Keystone pipeline

House Speaker John Boehner (R-OH) said on Sunday that he may block an extension of the payroll tax holiday if President Barack Obama does not approve the Keystone XL oil pipeline. “We’re going to do everything we can to make sure that this Keystone pipeline is in fact approved,” the…

Obama urges voters to keep pressing for change

US President Barack Obama on Saturday told Americans to keep reminding Congress of what is at stake in their lives, as he predicted change in 2012 — the year in which he will seek reelection. In his weekly radio and Internet address, the president also called on Congress to extend…

WATCH LIVE: President Barack Obama comments on payroll tax cut

President Barack Obama was expected to speak on Friday about the extension of the payroll tax cut. The president’s remarks were scheduled to begin at 12:15 p.m. ET. Watch this live video from CNN, broadcast Dec. 23, 2011.  …

Congress passes payroll tax deal

WASHINGTON (Reuters) - Congress approved a two-month payroll tax cut extension on Friday, capping an exhausting year of partisan warfare over taxes and spending that will resume in January, with the economy barely scratching out a recovery and elections on the horizon. Both the Senate and the House of Representatives, by voice votes in chambers nearly emptied for the…

Obama warns economy at risk in tax fight

US President Barack Obama on Tuesday warned the “fragile” US economy could be impacted by a failure to extend a payroll tax cut, and called on Republicans to reverse their refusal to act now. “Right now the recovery is fragile but it is moving in the right direction,” Obama told reporters at the White House after House Republicans blocked a Senate compromise to…

Sen. Coons explains why Democrats broke off payroll negotiations

Sen. Chris Coons explained Monday why Democrats had agreed to extend the payroll tax cut for only two months, a compromise that House Republicans are now expected to kill. House Republicans have said they will reject a compromise struck by Republicans and Democrats in the Senate that would extend the…

WATCH LIVE: GOP leaders address payroll tax bill

John Boehner, Eric Cantor and other Republicans discuss the payroll tax bill. Watch live:…

Obama’s new problem: House to block payroll tax holiday extension

US President Barack Obama faced a new political battle Monday after the top Republican in the House of Representatives rejected a two-month payroll tax cut extension already approved by the Senate. The US Senate passed a two-month payroll tax holiday extension on Saturday, guaranteeing fresh partisan bickering in the 2012…

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