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Capitol Hill weighs GOP payroll tax gambit

House lawmakers are returning to Capitol Hill to weigh a proposal by GOP leaders to extend the 2-percentage-point cut in the payroll tax through the end of the year and add the roughly $100 billion cost to the nation's $15 trillion-plus debt instead of scrounging around the budget for ways...

By Andrew Taylor | Updated on February 14, 2012
(AP Photo/Jose Luis Magana)

WASHINGTON (AP) — House lawmakers are returning to Capitol Hill to weigh a proposal by GOP leaders to extend the 2-percentage-point cut in the payroll tax through the end of the year and add the roughly $100 billion cost to the nation’s $15 trillion-plus debt instead of scrounging around the budget for ways to pay for it.

In the Democratic-majority Senate, a top leader said the proposal was “a major step forward” even as other Democrats worried it could jeopardize efforts to renew unemployment benefits for millions of the long-term jobless and efforts to forestall a scheduled cut in fees to doctors who treat Medicare patients. Those proposals would remain in the hands of a House-Senate negotiating panel that’s looking for spending cuts to defray the deficit impact.

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