If you enjoy the content at iBankCoin, please follow us on TwitterWASHINGTON – House Republicans are on a collision course with the White House and potentially the Senate over an emerging proposal to extend the payroll tax cut, teeing up a protracted debate that could keep lawmakers in Washington for the holidays as they try to avert a Jan. 1 tax increase.
The Senate on Thursday afternoon rejected rival Democratic and GOP plans for extending the cut. The failure was expected, cueing the House to step in with a new plan.
Details of that proposal, expected to be unveiled in full on Friday, suggest its Republican authors are preparing for a showdown with President Obama. The bill includes a controversial provision to move along the construction of an oil pipeline from Canada to Texas — the Obama administration recently put that project on hold until after the 2012 election, citing environmental and safety concerns.
The provision pertaining to the Keystone pipeline helped sweeten the deal for House conservatives skeptical of a payroll tax extension.
Joined Nov 11, 2007
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Let’s see if Barack is willing to trade real jobs for his blue collar base against his wealthie weenie-greenie street cred.
Will he choose the 1% (Sierra Club watermelon greens) or the 99% (pipeline union and non-union Joe Six Packs)?
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All for the pipeline – much needed and beneficial for Canada which I am always for. That said, Republicans whose states this is supposed to be opposed to this as well due to environmental concerns (source TheYoungTurks – liberal source)
probably neither
The pipeline – if anyone knows, what will be the impact on crack spreads?