Tax Cut Extension Valley Reaction
Anchor Anthony Alvarez Shows why some people are confused about the whole deal.Photo: Video by kmir6.com
PALM DESERT-According to the Associated Press the cost for the $33 billion tax cut extension will pass on to mortgage lenders, but new home buyers will pay for it through additional lending fees starting next month. President Obama says it's $40 a paycheck americans can keep.
Stan Little shops for bargains at the College of the Desert street fair.
He says it may not fix the current econmy.
"That i don't know. It's not that much money you're going to see everyt month," said Little.
The social security payroll taxes will stay at 4.2% instead of rising to 6.2% percent on January 1, 2012.