Reuters - Video

Edition: US | UK | IN | CN | JP

Video

Business in Congress may remain unfinished

Saturday, December 10, 2011 - 03:59

Dec. 9 - KBW senior vice-president Brian Gardner says Congress is racing to make the Dec. 31 deadline when payroll tax cuts, extension of unemployment benefits, and a host of other measures expire.

▲ Hide Transcript

View Transcript

It's likely to be a messy week in Washington congressional lawmakers are racing and make the December 31 deadline. That's in payroll tax cut extension of unemployment benefits and a host of other measures expire. Here to discuss the chances of congress tackling these important issues before the holiday break. Is Brian Gardner he's senior vice president for Washington -- key yet. And -- right if the GOP and their market is gonna come to deal on payroll tax cuts. What do you think that that might look like when the dust. Clears -- the senators notable democratic and Republican plan. Well both plans have a bunch of extra items on it and people are -- both parties are posturing right now. Actually think -- winning a when a compromise is reached it will actually be probably. Straightforward fairly Vanilla a simple. Payroll tax holiday extension with. A few. A few pieces of window dressing so each -- -- can take some credit. May be some some must spending cuts in and pay for is that Republicans want. But. You know one thing the Democrats want is a millionaire. Tax surcharge I think that's unlikely. Think Republicans are pushing for 88 a a vote on the Keystone Pipeline to force that through instead of waiting is the president wants the next year. I think Republicans are likely to get what they want so I think at the end of the day will be a fairly straightforward. Extension of payroll tax holiday arguments -- that keystone XL pipeline. You don't think the Democrats are bomber are ready to compromise on that wanna get this through. It's a tough political issue for them because it's too constituency groups that are affected within the Democratic Party. The environmental lobby obviously does not want the pipeline to go through it has been pressuring the administration to hold off. But labor is is strongly behind it and the part of the pipeline runs through plus states that I think the year the administration would would like to see yen carry in the upcoming election. So what it say yeah it's a popular issue on the other cipher for laboring in -- kind of mainly Democrats. So I think it's a tough call for the Democrats but I think it right now. They would prefer just upon the issue until after the election I think ultimately the type one is going to go through. But I think there'd -- administration address. Rather not deal with it right now we -- -- -- thirteen are breathtakingly realistic it topple them about the unemployment benefits extension. Those benefits have previously been extended to 99 weeks. Other Republicans going to give in and allow for a further extension or will be refused to budge. I think at the end of the day enough Republicans will budge and and will vote for it I don't think there's a yet. Unanimous view within the Republican conference at least an outside of -- -- how to proceed there are certainly a number of Republicans that would prefer to see the benefits expire or at least curtailed to restructure them. Trying to marry them to some kind of of on the job retraining program of some sort I think that's probably. It's probably too early in the process to get that done right now. And at the end I think a number of Republicans will just go along with that there will be a number of -- I mean it's going to be tough vote in the house. The speaker is going to have to work with Democrats to bring a number of Democrats along. And a number of moderate to -- -- slightly conservative Republicans. But a lot of Tea Party candidates. You know Kennedys have been members of the house I should say that that held out on the on previous though it's on on the debt ceiling similar issues like that. Com they will not vote for this so it it it will be tricky vote to get through but it it'll probably happen. Hi thanks lot for raping and all of forest Brian. Our thanks to Brian Gardner of Keefe -- and woods I'm Fred Katayama and this is --

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Business in Congress may remain unfinished

Saturday, December 10, 2011 - 03:59