Need to Pass Payroll Tax Cut
The majority has now held 891 votes in this chamber, and we still see no plan for job creation. To make matters worse, my colleagues across the aisle have now focused their efforts on opposing a tax break for the middle class. They are opposing an extension of the Payroll Tax holiday enacted earlier this year that gave virtually all working Americans a much needed tax cut—reducing taxes for over 160 million American workers.
Economic uncertainty both here in the U-S and abroad, makes this a dangerous time to eliminate an important tax cut that is saving American families an average of $1,000 per year. Failing to extend the Payroll Tax holiday, will raise taxes on millions of Americans, taking over $120 billion out of the pockets of consumers and out of the economy. Furthermore, at the same time that the majority is working to raise taxes on the middle class, they are willing to cut off the Unemployment Insurance that has been keeping millions of Americans afloat.
Mister Speaker, let's ensure that millions of Americans enjoy this holiday season and are not forced to worry about rising taxes or losing essential assistance.
I yield back.