Stimulus Measures Set to Expire at Year’s End Will Be Next Fiscal Battle
November 22, 2011
The likely failure of the bipartisan Congressional deficit committee has opened the door for a year-end showdown on expiring stimulus measures that are adding billions of dollars to workers’ pockets and, economists say, buoying the fragile recovery.
The committee had been charged with trimming federal deficits by at least $1.2 trillion over 10 years. But it had also considered continuing some temporary provisions — a payroll tax reduction and an expansion of unemployment benefits — given an unemployment rate stuck at 9 percent and anemic economic growth.