Pelosi: Don't extend payroll tax cut

AP News
Posted: Sep 21, 2012 4:12 PM
Pelosi: Don't extend payroll tax cut

WASHINGTON (AP) — House Minority Leader Nancy Pelosi says she does not want lawmakers to extend the payroll tax cut that expires at the end of this year. She says the measure was always meant to be temporary and says that instead, it is time for Congress to focus on overhauling the entire tax code.

In a Friday meeting with reporters, the California Democrat declined to say whether she would continue as her party's leader next year should they fail to gain control of the House on Election Day. The one-time House speaker said that would be up to her fellow Democrats and her family.

The two percentage point cut in the 6.2 percent Social Security payroll tax was a priority of President Barack Obama. It has been in effect since last year.