payroll tax

Colorado lawmakers in Congress at odds on how to pay for extending payroll tax cuts

Type: Press Coverage
Published Date: December 2, 2011
Author: Sherry, Allison

By Allison Sherry
The Denver Post

WASHINGTON – An imminent battle to extend tax cuts to more than 161 million Americans next year – including 2.5 million in Colorado – could get ugly as Republicans and Democrats spend the weeks before a Christmas recess wrangling about how to pay for them.

This year, the median household, which earns $50,000 annually, saw roughly $1,000 back in its paychecks after President Barack Obama and Congress agreed to shave 2 percentage points off of what workers normally pay into the Social Security trust fund.

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