F:\M12\HERGER\HERGER_024.XML EWBallou ewballou 2/13/2012 10:28 ewballou 02/12/2012 19:52 f:\VHLC\021312\021312.079.xml 02/13/2012 10:28:14 ewballou 1122-0212-504290 518653|5 [Discussion Draft] (Original Signature of Member) [DISCUSSION DRAFT]

I 112th CONGRESS 2d Session H. R. __ IN THE HOUSE OF REPRESENTATIVES Mr. Herger introduced the following bill; which was referred to the Committee on ______________ A BILL To continue the employee payroll tax cut through 2012.

1.

Short title

This Act may be cited as the Temporary Payroll Tax Cut Continuation Act of 2012.

2.

Extension of payroll tax holiday

(a)

In general

Subsection (c) of section 601 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (26 U.S.C. 1401 note) is amended to read as follows: (c)

Payroll tax holiday period

The term payroll tax holiday period means calendar years 2011 and 2012. . (b)

Conforming amendments

Section 601 of such Act (26 U.S.C. 1401 note) is amended by striking subsections (f) and (g). (c)

Effective date

The amendments made by this section shall apply to remuneration received, and taxable years beginning, after December 31, 2011.