Congress’s Inactivity Could Cost North Texans Thousands

ARLINGTON (CBSDFW.COM) – Debbie Haskett is trying to beat the rush at the grocery store.  As she goes through her list at a Kroger in Arlington, she looks for the best deals.

Like so many others this year, she is watching her wallet.   “It won’t be as many Christmas presents under the tree,” says Haskett, who is visiting family for the holidays.

Suzanne Hanson can relate.  “I got to buy groceries,” says Hanson “Nothing changes that really.”

But now, the two women will be impacted if lawmakers don’t extend the payroll tax cut.

House Republicans voted to reject a two month tax cut to establish negotiations with a resistant senate.  The Senate passed the two month tax cut overwhelmingly over the weekend after failing to reach agreement on how to pay for a one year plan then they left town.

Workers could see their payroll taxes which fund social security jump back to 6.2% from 4.2%, which means that Uncle Sam would take an extra $1,000 from a worker who earns $50,000.

Experts say it will impact an already fragile economy, especially with food and gas prices already high.  “It will impact the economy.  Will it push us back into a recession? Probably not, but it will slow things down,” says financial analyst Jim LaCamp.

For North Texans trying to save at every corner it could mean an even leaner New Year.  “That’s disappointing for me,” says Hanson “They’ve got things I think they can back in other ways instead of on middle class people like myself,” says Hanson.

If Congress doesn’t act, unemployment benefits for newly jobless Americans will revert from 99 weeks to 26 weeks. Also, doctors who care for Medicare patients will see their reimbursements slashed.


One Comment

  1. susan says:

    selfish,me first,lets get obama blaamed for everything and out of office….thats the name of the game..face it people..your republican brethren dont care about you unless you make say$500k per year or more..the rest of us dont count…boehner cries his way down the street with his check know of course that the elected ones in congress vote for their own raises and benefits.a bunch of hypocrites!!!

  2. Really Tired says:

    If this happens, a lot of those self invested idiots are going to be looking for a job come Nov. 6, 2012 because we won’t forget how they have held us hostage. Every one of them need to be out looking for a job. I am tired of all the drama surrounding Congress and the White House. They need to have their salaries cut. The original members setting our government up have all turned over in their graves several times over what our government has been turned into. A bunch of self serving vultures.

  3. Rick McDaniel says:

    It’s going to cost them a lot more than a few extra dollars in their pocket in the long run.

    The payroll tax cut itself, is truly a bad idea, it will do a lot of future damage, and it will take years to recover from that damage, once it is reversed.

    Humans can be so short sighted and foolish.

Comments are closed.

More From CBS Dallas / Fort Worth

Drip Pan: CBS Local App
Drip Pan: Weather App

Watch & Listen LIVE