President Barack Obama is expected to present a budget proposal Monday that will trim the federal deficit in the next 10 years. In the Senate, Budget Committee Chairman Kent Conrad says he is at peace with Senate Majority Leader Harry Reid’s decision to not bring a 2013 Senate budget resolution to the floor.
Observers on Capitol Hill are still wrangling over the payroll tax holiday, which expires at the end of this month. House Majority Leader Eric Cantor has indicated Republicans would reject any tax hike as a way to pay for a full-year extension of the payroll tax holiday. Going into the weekend, it appeared negotiations over extending the payroll tax cut were going poorly.
Source: NAFB News Service