The U.S House of Represenatives has passed the payroll tax bill that gained overwhelming support from President Barack Obama.
STORY: The 411 On The Payroll Tax Debate!
Over the past two months, President Obama has been trying to get Congress to agree to a payroll tax extension for America’s middle class. The extension will be for two months, giving Congress and the Presidency plenty of time to negotiate for a longer lasting payroll tax policy.
According to the Associated Press, the payroll tax cut extension will add money to the pockets of Americans who make a salary of $50,000 per year by allowing them to earn $20 extra per week. It will also save over 2 Million unemployed people from losing unemployment benefits that average $300 a week.
With much pressure from the American people and the Obama adminsitration, the Senate passed the bill last Friday. Now that the House has passed the bill, it will go on to the White House, where it will be signed by the President.
This is certainly a great holiday present for America and the middle class.
Well done!
