Payroll tax holiday running down [View all]

[Javaman]

http://money.cnn.com/2012/02/02/news/economy/payroll_tax_cut/index.htm?iid=HP_LN

NEW YORK (CNNMoney) -- Despite bipartisan support on Capitol Hill for extending a temporary payroll tax cut for the rest of 2012, lawmakers have yet to close the deal.

The reason? Same ol', same ol'.

221PrintCommentWith just 28 days left before the current two-month Band-Aid version expires, the sticking point for lawmakers is how to pay for an extension -- the very same reason that tripped them up when they tried to negotiate a full-year extension in December.

Douglas Elmendorf, director of the Congressional Budget Office, told the House Budget Committee on Wednesday that he estimates that extending the payroll tax cut for another 10 months will cost $100 billion.

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