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The Many Plans for Payroll Tax Cuts

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    FBN's Peter Barnes with the latest on the continuing debate over payroll tax cuts in Washington.

  • Duration 2:41
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With the latest from Washington Peter what's -- state of play today because yesterday we had zero plans in sounds like today we've got three may be more now.

I need a blackboard is thought that it -- cover above where it's on -- -- with that -- senators but trying to work out a bipartisan compromise Susan Collins Republican of Maine and Claire McCaskill Democrat of Missouri announcing their proposal this morning.

There bill would extend the current 2% payroll tax cut for employees into next year.

-- provide payroll tax cuts for employers on the first ten million dollars of their payrolls.

They would exclude this surtax on people making more I'm sorry they would include that -- three plans out -- as I gotta keep track they would include a surtax on people making more than a million dollars a year but would exempt.

A lot of small business owners which is something that the president.

It is not willing to do yet.

He cannot continue to resort.

To.

Offsets have paid for -- proposals that have been repeatedly.

Rejected he needs a new approach in the best way.

To get a new approach is to sit down with the Republican leaders and asked them.

Why would be acceptable to the majority of our -- -- Now senate Republican -- are rejecting the latest offer from senate democratic leaders are written by senator Bob Casey of Pennsylvania that does include a surtax on all millionaires.

Republican leaders say that's just on non starter and that it sets up political show votes in the senate.

This was not a compromise -- this was nothing more than another bill designed.

To fail.

So Democrats can have another week of fun and games on the -- -- floor while tens of millions of working America.

Go another week wondering whether they're gonna -- -- smaller -- track at the end of the year.

And finally we are waiting on house Republicans who are preparing -- latest counter offer we expect to get details on that.

Later today maybe tomorrow -- And just as you memorize all of that -- Peter Barnes it's all gonna change again before I let you go we know president -- is.

Talking in Kansas speaking Kansas today what's the subjects.

While he was channeling president Teddy Roosevelt today president Roosevelt went to Kansas a hundred years ago to this same city in Kansas.

And the White House -- press office told -- ahead of that that that.

The president would call part in new nationalism where everybody gets a fair chance to square deal and an equal opportunity to succeed he is still speaking right now and can't.

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