Lawmakers in Washington are making progress on the Payroll Tax Cut Bill. U-S Senator Mike Johanns believes there has been a handshake on the deal with multiple components. He says there are a few stumbling blocks including the proposal of a 30% reduction in payments to physicians who treat Medicare patients.
Senator Johanns is also concerned about the unemployment portion of this bill. At some time or another, extensions will have to end. He says they are supposed to be a bridge to help individuals out in between jobs. Extensions are already at 100 weeks for some. He intends to look at that portion carefully.
Senator Johanns says the payroll tax is dedicated to Social Security, a program that isn’t in good shape. He says it is not bringing in enough to pay current benefits. The House of Representatives could vote Thursday and the Senate on Friday.