I’m with Rich, scratching my head as to how the payroll tax cut became a political loser for the GOP. It’s like I went to sleep with the House, the president, and the private sector all in favor of a one-year extension and woke up to find universal agreement that the GOP is off the reservation for sticking to just that.
I had honestly figured the chiming in from tax processors, payroll services, and trade associations would be the fulcrum on which opinion swung to the GOP position. The folks in the best position to know say a 60-day extension is unworkable and will ramp up employer uncertainty, and yet Republicans are putting taxpayers at risk because they already passed a year-long extension?
In any event, if Jonathan Karl is right it will all be over soon. Karl reports that top House Republicans are looking for a face-saving way of caving in, and he predicts they will do just that, likely within the next 24 hours.