Thu, 01 Dec 2011 09:36:37 GMT
Senate Republicans to offer tax reduction plan
On Wednesday Senate Republicans came up with their proposal of payroll tax cut, significantly differing from that offered by Senate democrats. The Republicans propose to prolong tax cut by one year and keep rates at 4.2% on salaries below $106,800 instead of 6.2%. In contrast, Senate democrats earlier proposed further tax reduction to 3.1% next year. Both parties also cannot agree