Central NY residents react to payroll tax cut extension
By: Chelsea Rarrick
Updated: December 22, 2011
The agreement in the payroll tax cut will now help out those who may be struggling in this tough economy.
One Utica man says the two month extension to the payroll tax feels like an early Christmas present.
If an agreement hadn't been made, 160 million Americans would have been seeing an average $40 tax missing from each paycheck.
House Speaker, John Boehner said it may not have been the smartest move politically to hold out for a year-long extension, but he says he is proud of his party's efforts.
And, some Utica residents we spoke with tonight are glad to be able to continue to take that $40 home.
"If it were a one time thing, it wouldn't be a particularly substantial help to anybody, I don't think. But the fact that it's a weekly improvement, that over a course of a year, it's bound to impact the economy and with a little bit of luck, I think that could turn into something that could stimulate the economy," said Ray Cooney of Utica.
"Honestly, I just graduated from college so $40 a paycheck is pretty big to me. I like to do things and I have four jobs right now, so if I could save $40, that would be amazing," said Sarah Sterling.
President Obama says when congress returns, he's urging them to keep working on a compromise to extend the cuts for a whole year.
The House and Senate are expected to approve the bill by unanimous consent before Christmas.
One Utica man says the two month extension to the payroll tax feels like an early Christmas present.
If an agreement hadn't been made, 160 million Americans would have been seeing an average $40 tax missing from each paycheck.
House Speaker, John Boehner said it may not have been the smartest move politically to hold out for a year-long extension, but he says he is proud of his party's efforts.
And, some Utica residents we spoke with tonight are glad to be able to continue to take that $40 home.
"If it were a one time thing, it wouldn't be a particularly substantial help to anybody, I don't think. But the fact that it's a weekly improvement, that over a course of a year, it's bound to impact the economy and with a little bit of luck, I think that could turn into something that could stimulate the economy," said Ray Cooney of Utica.
"Honestly, I just graduated from college so $40 a paycheck is pretty big to me. I like to do things and I have four jobs right now, so if I could save $40, that would be amazing," said Sarah Sterling.
President Obama says when congress returns, he's urging them to keep working on a compromise to extend the cuts for a whole year.
The House and Senate are expected to approve the bill by unanimous consent before Christmas.
