The tax credit is part of a package of more than 50 temporary tax breaks that routinely expires every year or two, only to be renewed by Congress. The House passed the bill by a vote of 274-145. It now goes to the Senate. The White House threatened to veto the bill because it would add $182 billion to the budget deficit over the next decade.
CNBC's Rick Santelli is joined by Rep. Kevin Brady, (R-TX), to discuss the role of the Federal Reserve and immigration & tax reform.
President Obama is presiding over an economic recovery that is “dead last in the modern era,” Texas Congressman Kevin Brady said Friday on CNBC.
A united House Republican leadership surrendered crisply and cleanly on legislation to extend expiring payroll tax cuts for 160 million Americans, skipping most if not all of the self-defeating drama that accompanied their far noisier retreat on the issue late last year.