December 24, 2011 in Nation/World

Payroll tax cut

 

• Price tag: $33 billion.

• Paid for by: Increasing home loan guarantee fees charged to mortgage lenders by Fannie Mae, Freddie Mac and the FHA.

• Renews: Federal benefits for long-term unemployed through Feb. 29.

• Retains: 4.2 percent rate for Social Security payroll taxes paid by 160 million workers through Feb. 29.

• Prevents: 27 percent cut in Medicare payments to doctors; extends other health care fees through Feb. 29.

Associated Press


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