U.S. President Barack Obama says there are “hopeful signs” that Congress will agree on extending a payroll tax cut and unemployment insurance, but warned nothing is sure until he signs the measure into law.
In Washington Tuesday, President Obama said the country is still fighting its way back from the economic crisis, and there remains a lot of work to do. He said the last thing the country needs is for “Washington to stand in the way of America's comeback.”
“We've got to keep on making sure that the American people's voices keep breaking through until this is absolutely, finally, completely done. Until you see me sign this thing, you gotta keep on speaking up.”
His comments came a day after majority Republicans in the House of Representatives announced a proposal to extend the payroll cut until the end of the year, apparently dropping their demand that the cut must be offset by reduced spending.
The top three House Republicans said in a joint statement Monday they could bring a measure to a vote as early as this week. But their fellow Republicans, many of whom have been more adamant in their calls for spending cuts, would first have to agree.
The payroll tax cut is set to expire at the end of the month. Negotiations to extend it until the end of the year have stalled, with both Republicans and Democrats accusing the other side of refusing to compromise.
This tax cut directly affects the paychecks of 160 million U.S. workers. The White House says the workers would pay an additional $40 in taxes per paycheck without the extension.