Payroll Tax Cut Extension Could Bring Economic Benefits

Not extending the cut, say economists, could further threaten a shaky economy.

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Average Americans may not care about the macroeconomic effects of a tax cut so much as their own bank accounts. For his part, President Obama seems to grasp this concept well. The White House has launched a calculator showing how much money people can expect to save under the proposal. The president will also travel to Scranton, Pa., this week to advocate for the extension.

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