Tax News Payroll Tax Cut Bill Rejected by the House Read the Article Open Share Drawer Share this: Click to share on Facebook (Opens in new window) Facebook Click to share on X (Opens in new window) X Click to share on LinkedIn (Opens in new window) LinkedIn Click to share on Pinterest (Opens in new window) Pinterest Click to print (Opens in new window) Print Written by TurboTaxLisa Published Dec 22, 2011 - [Updated Mar 7, 2025] 1 min read On Tuesday, December 20th, House Republicans rejected the Senate’s two month extension of the payroll tax cut bill. The rejection occurred just 11 days before the payroll tax law is set to expire. payroll tax If you recall, the Senate passed the payroll tax bill extension for two months to give the Democrats and Republicans time to come to an agreement on other tax and non-tax related provisions attached to the bill. The payroll tax extension would keep Social Security tax at 4.2%, extend unemployment benefits, and prevent cuts to doctors’ medicare payments until a compromise was reached and the bill was extended for a longer period. There is no guarantee that there will be a compromise from the House of Representatives, but there is hope that pressure from the President and the Senate will further encourage an extension of the payroll tax bill by January 1. If the payroll tax is not extended, the typical family making $50,000 per year, will lose $40 per paycheck, 3 million people who receive long-term unemployment benefits will see a drop in benefits, and Medicare payments to doctors will be lowered. How would a $40 loss per paycheck impact you and your family? What could you do with $40 per paycheck? Previous Post Spending Bill Passes: What’s Next for the Payroll Tax Bill? Next Post Payroll Tax Cut Bill Extension is Now Approved! Written by Lisa Greene-Lewis Lisa has over 20 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Lisa has appeared on the Steve Harvey Show, the Ellen Show, and major news broadcast to break down tax laws and help taxpayers understand what tax laws mean to them. For Lisa, getting timely and accurate information out to taxpayers to help them keep more of their money is paramount. More from Lisa Greene-Lewis Follow Lisa Greene-Lewis on Twitter. One response to “Payroll Tax Cut Bill Rejected by the House” Considerably, the acritle is really the freshest on that notable topic. I concur with your conclusions and also definitely will thirstily look forward to your forthcoming updates. Saying thanks will certainly not just be sufficient, for the exceptional lucidity in your writing. I definitely will instantly grab your rss feed to stay abreast of any kind of updates. Authentic work and also much success in your business dealings! Reply Leave a ReplyCancel reply Browse Related Articles Life To Rent or to Own: The Ultimate House Debate Life Smart Shopping This Summer: Saving on Goods and Cars Latest News Arkansas Champions NIL State Tax Exemptions: What This Means for Student-Athletes and Schools Tax Tips TurboTax Up to 5-Day Early Refund Option: What You Need to Know Tax Help How to File a Business Tax Extension: Deadlines, Forms, and Penalties Tax Tips The White Lotus Tax Lessons: Navigating Gift Taxes, Lump Sum Payouts, Hush Money, and the IRS Tax Questions What Day Are Taxes Due? April 15! How to File for a Tax Extension or Pay Taxes Online Tax Questions What Happens If You File Your Taxes Wrong? Late Filing Penalties, Interest, and More Tax Questions What’s Tax Deductible? A Guide to Mortgage Interest, Long-Term Care, Funeral Expenses, Student Loans, and Roth IRA Contributions Tax Questions Is it Better to Get Your Taxes Done or Do Them Yourself? (And Other Tax Questions Answered)
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