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| Version 1 | Version 2 |
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| Obama administration reportedly mulling tax cut to boost take-home pay | Obama administration reportedly mulling tax cut to boost take-home pay |
| (about 1 month later) | |
| The Obama administration is reportedly mulling a new tax cut that would increase workers' take-home salaries and replace the soon-to-be expiring payroll tax reduction. | The Obama administration is reportedly mulling a new tax cut that would increase workers' take-home salaries and replace the soon-to-be expiring payroll tax reduction. |
| On Saturday, the Washington Post quoted White House sources as suggesting the fiscal measure could boost the economy and add hundreds of dollars to employees' annual pay. | On Saturday, the Washington Post quoted White House sources as suggesting the fiscal measure could boost the economy and add hundreds of dollars to employees' annual pay. |
| Responding to the report, the White House said no new tax policy suggestion had been formulated. "There's no specific new proposal such as this one at this time," an official said. | Responding to the report, the White House said no new tax policy suggestion had been formulated. "There's no specific new proposal such as this one at this time," an official said. |
| "The very first thing Congress should do is the House needs to follow the Senate's lead and pass the bill the president proposed to ensure taxes don't go up on 98% of Americans at the beginning of next year," the staffer added. | "The very first thing Congress should do is the House needs to follow the Senate's lead and pass the bill the president proposed to ensure taxes don't go up on 98% of Americans at the beginning of next year," the staffer added. |
| But according to the Washington Post article, the administration believed the economy could use further stimulus despite signs of improvement and is eyeing the new tax relief as a potential solution. | But according to the Washington Post article, the administration believed the economy could use further stimulus despite signs of improvement and is eyeing the new tax relief as a potential solution. |
| Obama is locked in a tight re-election battle with Republican challenger Mitt Romney in which the struggling economy is the main issue. Obama has proposed letting Bush-era tax cuts expire for the wealthy, but Romney has said tax increases would damage the economy. | Obama is locked in a tight re-election battle with Republican challenger Mitt Romney in which the struggling economy is the main issue. Obama has proposed letting Bush-era tax cuts expire for the wealthy, but Romney has said tax increases would damage the economy. |
| The payroll tax first implemented in 2011 at Obama's request was designed to help provide people an economic cushion, but critics have questioned relying on a measure that cuts funds from the social security retirement system. | The payroll tax first implemented in 2011 at Obama's request was designed to help provide people an economic cushion, but critics have questioned relying on a measure that cuts funds from the social security retirement system. |
| The Post said the Obama administration wanted to match the benefits of the payroll tax reduction without tapping into social security revenues. | The Post said the Obama administration wanted to match the benefits of the payroll tax reduction without tapping into social security revenues. |
| Regardless of the election outcome, the country faces a "fiscal cliff" of automatic across-the-board spending cuts and tax increases for the end of the year unless the White House and Congress can strike a deficit reduction deal. | Regardless of the election outcome, the country faces a "fiscal cliff" of automatic across-the-board spending cuts and tax increases for the end of the year unless the White House and Congress can strike a deficit reduction deal. |
| Obama told the Des Monies Register on Tuesday that he was confident that if re-elected, he would secure within six months a deficit-reduction deal with Republicans equivalent to the "grand bargain" he failed to achieve last year. | Obama told the Des Monies Register on Tuesday that he was confident that if re-elected, he would secure within six months a deficit-reduction deal with Republicans equivalent to the "grand bargain" he failed to achieve last year. |
| The goal of such a deal would be to achieve $4tn in deficit reduction over 10 years. | The goal of such a deal would be to achieve $4tn in deficit reduction over 10 years. |
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