![Senate Defeat Leaves Payroll Tax Cut in Limbo [AUDIO]](http://townsquare.media/site/67/files/2011/01/tax_forms_250x200.jpg?w=980&q=75)
Senate Defeat Leaves Payroll Tax Cut in Limbo [AUDIO]
The U.S. Senate has defeated competing Democratic and Republican plans to extend a cut in the payroll tax, that punts the issue over to the House. President Barack Obama and most Democrats want a payroll tax cut of 3.1%. Meanwhile, many Republicans would prefer to just extend the current 2% tax cut.