34 / 30
      34 / 29
      40 / 26

      Payroll tax cut bill goes to conference committee

      Still no decision on the payroll tax cut that will disappear at the end of the year unless Congress finds a way to pass it.

      The House voted Tuesday to send the Senate's bill to a conference committee. The Senate passed a two month tax cut, but some House members are opposed to it.

      Now House and Senate members will try to resolve their differences and eventually vote on whether the payroll tax cut will be increased to a full year.

      U.P. Congressman Dan Benishek says he favors extending the payroll tax to an entire year and is upset that the Senate is taking their holiday vacation at such an important time.

      "I'm here, I'm in Washington. I don't want to come back either, but I'm here to do a job. And we're going to finish this job before the end of the year and it was to get this bill completed. To go through this whole argument again in 60 days is ridiculous," said Congressman Benishek in a phone interview.

      If the tax cut issue is not resolved, taxes will increase for Americans by two percent on January 1. Unemployment benefits are also at risk of being cut.

      President Obama is siding with the Senate when it comes to the two month tax cut compromise.

      "Let's not play brinksmanship. The American people are weary of it. They are tired of it. They expect better," said President Obama.

      The Conference Committee and the Senate and House both must come to a decision by the end of the year or the payroll tax cut is erased.