A bill proposed by House Republicans extends the payroll tax relief, protects social security, extends Unemployment Insurance and contains key job initiatives.
Extension of Unemployment insurance with a gradual reduction of the maximum number of weeks of jobless benefits from 99 to 59, with a drop to 79 weeks next year. The proposal would require those that have not completed High School to enroll in a GED program.
Keystone Pipeline – The decision for the Keystone Pipeline would have to be made within 60 days.
Elements of Senate Republican Bill The bill sees a two year pay freeze on federal employes and means test for Medicare and elimination of unemployment insurance and foodstamps for the wealthy.
Posted by Speaker Boehner’s Press Office on December 09, 2011 Next week, the GOP-led House of Representatives will vote on the Middle Class Tax Relief & Job Creation Actto help create thousands of new American jobs while helping Americans struggling with the consequences of President Obama’s failed economic policies. The bill extends current payroll tax relief, protects Social Security, reforms and extends unemployment insurance, and extends pro-growth tax relief for businesses of all sizes – while also advancing several bipartisan measures that will directly support the creation of private-sector jobs, including the Keystone XL energy pipeline. Everything in the House bill is offset by spending cuts, rather than through tax increases that would hit small businesses and destroy jobs, as proposed in Senate Democrats’ bill.
Extends Current Payroll Tax Relief, Protects Social Security
The bill provides a one-year extension of the temporary payroll tax relief enacted in 2010 and allows Americans to keep more of their own money, rejecting the Democrats’ plan to increase taxes on job creators. The measure protects the Social Security Trust Fund from being harmed by cutting government spending and directing those savings to replenish the trust fund. Specifically, the measure: Office of the Speaker