Cantor Speaks about Payroll Tax Cut

RICHMOND, VA (WWBT) - President Obama wants to extend the reduced with-holding and balance it with a tax hike on the rich. Republicans won't agree to any new taxes, so today they proposed a plan that includes a cut to benefits, and opens the door to a controversial expansion of an oil pipeline.

The Keystone X-l pipeline is strongly opposed by environmental activists and the President has called for more study on the plan before it is approved.

Under this particular GOP plan, the White House would have to "green-light" the project within two months.

Democrats in the Senate said the Republican proposal is dead on arrival and is wasting time as the December 31st deadline approaches.

Majority Leader Eric Cantor told NBC-12 that despite all the rhetoric, a deal will get done.

"We are going to see a way forward together and resolve the differences so that we can afford those who are out there with a job working hard right now some relief," said Cantor.

Congressman Cantor was at the Seigel Center for Friday night's VCU vs. Richmond basketball game.

If the leaders in Washington, DC can't come up with an agreement by the end of the year, most Americans will lose 2 percent in their weekly take home pay.

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