Rep. Tom Petri joined with House Republican leaders at a Tuesday press conference to call for continued efforts for a one-year extension of the Social Security payroll tax cut, which is currently scheduled to expire Jan. 1.
The House of Representatives has approved an extension of the tax cut for an additional year while the Senate has approved only a two month extension. The House Republican leaders have appointed members to sit on a conference committee to negotiate the differences between the House and Senate bills. They called on the Senate and House Democrats to appoint their representatives to the committee and to get the negotiations for a final bill under way.
"The House has insisted that the final bill be paid for in a responsible way, and that it be extended for one year, which is something that would reduce uncertainty and is in line with what the business community tells us is more doable, because doing it on and off again for a month or two months is mechanically hard and it creates uncertainty," Petri said.
"What we are trying to do now is keep the economy on an increasingly upward path. We think doing this as the President requested - for one year - will let people know where they stand, be easier to administer, and get this issue behind us in a responsible way," he said.