Payroll tax extension in political stalemate

12/22/2011 | Wall Street Journal, The

President Barack Obama telephoned House Speaker John Boehner, R-Ohio, to urge him to reconsider the two-month payroll tax extension. The speaker said that legislators had been "elected to change the way Washington does business," and reiterated his push for a year-long bill. If there is no congressional action before Jan. 1, the payroll tax will increase from 4.2% to 6.2%.

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Wall Street Journal, The

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