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Why is President Obama Threatening a Bi-Partisan, Job-Creating, Payroll Tax-Cutting, Unemployment Insurance-Extending Bill?
December 14, 2011
The President has been going to the mat pressuring Congress to extend the current payroll tax rate reductions, allow unemployment insurance to be collected beyond the current 99-week limit, and of course has paid much lip service to ‘creating jobs’. So the House-passed “Middle Class Tax Relief & Job Creation Act” should be a perfect Christmas present for President Obama.
The National Taxpayers Union supports this bill despite its imperfections because (among other things) it avoids a tax increase, will eventually help to reform unemployment insurance (a topic NTU recently addressed), and will give the green light to the Keystone XL pipeline – an initiative that is practically guaranteed to create THOUSANDS of American jobs.
A slam-dunk right? President Obama wants to help put folks back to work, and is in favor of all that! Nope. The President has threatened to veto the bill and Sen. Reid (D-NV) is on the march to prevent that scenario from having to play out.
The alternatives preferred by the President would extend the payroll tax reductions and unemployment insurance while pursuing tax hikes on politically convenient targets in the name of ‘paying for’ the new spending and defunding of Social Security and Medicare. Once again the President and his Senate allies seem to be putting their job-killing moves in writing, even as they devote their airtime to claim interest in job creation.
If the President and Harry Reid truly desired what they claim, they would be thankful to help enact legislation that has so much potential to put Americans back to work, extends the benefits they want, and essentially asks them to compromise on reducing spending to offset any revenue loss, rather than further crippling job creators.
Perhaps with more concerned citizens voicing their support for this bill, minds can be changed. It’s high time Senate leaders and President Obama put aside their vendetta against specific industries and high-income earners and helped put Americans back to work.
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