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White House Economic Council Director Gene Sperling on efforts to extend the payroll-tax cut.
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Set to vote on the payroll tax cut bill very late tonight.
And house speaker John Boehner says the bill will be rejected.
With us now is Gene Sperling he's director of the White House economic council so -- what happens that what happens if it is rejected by the house what is the senate -- You know I'm not willing to accept that that's what's gonna happen.
As you know obviously this president.
Proposed American Jobs Act hundred days ago which now -- called for extending called for expanding the payroll tax cut to all workers -- actually cutting.
Payroll taxes in half for six million small businesses who employ 56 million Americans so we would like a full year extension we'd like more.
But what happened on Saturday was that at least Democrats and -- and Republicans came together in the senate.
And so they were to meet the president's fundamental principle.
That we should not go home until we've at least extended the tax cut 460.
Million Americans it was not -- -- would be more of a setback for our economy than to be raising taxes on every single worker.
When you get 89 votes in the United States senate these days as I say the only things -- can get 90% support.
In the United States senate are mom apple pie in -- of ice cream.
And when you get 90% support with the speaker of the house knowing this negotiation was going on for to have a small group.
People in the house represented to reject this and put -- rest for a 160 million Americans.
That their taxes will go up is just not acceptable and we're hoping that sanity will prevail tonight -- It's so ironic is it not be what you just said this is not the time to raise taxes on the working American.
That's pretty much been the clarion call for four Republicans there's always been the ones to beat that -- and then suddenly when it's.
The perception is that what it's something that was floated by the democratic president suddenly they're gonna fight a tax cut which is.
Awfully interesting to a lot of -- political watchers but also distressing to people who want and that sort of to have some.
Visibility when it comes to this so you believe that there's enough bipartisan.
Strike -- -- in the house for this thing to pass tonight.
Look we can only hope.
You know look a lot of the reason that the president proposed the payroll tax cut last December was he was looking for something bipartisan that Democrat Republicans both agreed on.
That put an extra thousand dollars in the pockets of American families and help them deal with the rising cost.
Of gas and food and other things that could have been an even further set back for our economy.
So now to have Republicans who are gonna go next year and say we've got extend tax relief.
For those who -- making over 250000.
For the most well off.
A trillion dollars we don't pay for a penny a -- But here they are holding up.
Tax relief that would cost 110 of that -- would go to every single American would be -- thousand dollars for the typical family and they're gonna hold this up after 90%.
Of the senate.
Virtually every Republican and democratic senator supported it.
Right before Christmas.
It's it's inexplicable.
And again I can only hope sanity will prevail tonight.
And that enough Republicans will decide.
That -- at least meet the president on this compromise and if we get the two month extension.
That will give us more time to get the full year extension of the payroll tax cut and maybe give a little bit of confidence that people at home.
That Washington is capable.
Of working together and -- a basic principle that this president put four.
-- -- You know they're not doing it just on the basis of wanting not to be reelected that is presumably.
People at home are talking to some of these folks a lot of -- Our Tea Party candidates new people in and say.
Hold the line on this so presumably they are hearing from their constituents at home which is hopefully what congress does to make sure they're not.
Voting against the wishes of their own voters.
So isn't it conceivable let that a lot of the voters who put these people -- officer saying senator don't compromise for partial deal.
You need to hold out.
For the full thing.
-- you know actually.
Ever since the president put for the American job -- overwhelming.
But leave that American public has supported not just the payroll tax cut.
But his calls prevent teacher layoffs to have more construction jobs.
So I think what you really see here is you see out broad bipartisan consensus in the senate.
You see Democrat she saw even a speaker of house endorsing this bill and I think it's very sad that we have a small contingency.
-- house Republicans.
Who for whatever reason are willing to hold up what is an overwhelming consensus in this country right now that we should not have taxes going up -- -- 160 million workers.
As a New Year's ads as the new year comes in and we have a compromise he -- everybody.
-- cooling off period a breathing space to come together.
Extend the tax cut for people here extend unemployment insurance for people who are still fighting hard to find a job.
And hopefully do even more to help -- get jobs going in our country right now.
Gene Sperling National Economic Council director Jeanne thank you for coming in appreciate -- I think.
