Fwd: Extending the Payroll Tax Cut

---------- Forwarded message ----------
From: Congressman Tom Graves
Date: Thursday, December 22, 2011
Subject: Extending the Payroll Tax Cut
To: majors.bruce@gmail.com


District Update | December 22, 2011 Click here if you have trouble viewing this email

Extending the Payroll Tax Cut

Over the last few weeks, Congress has been trying to work out a way to extend the federal payroll tax cut, and I wanted to give you an update on this important issue.

In today's turbulent economy, the last thing the federal government should do is increase taxes on Americans. Yet, the payroll tax rate for employees is scheduled to increase to 6.2 percent from its current rate of 4.2 percent. That is why Republicans and Democrats in the U.S. House of Representatives came together to pass H.R. 3630, the Middle Class Tax Relief and Job Creation Act. This legislation would extend the payroll tax cut for both employees and businesses. H.R. 3630 also contained spending cuts to prevent increases to the federal deficit and avoids additional shortfalls to Medicare and Social Security.

Despite this bipartisan effort, Senate Majority Leader Harry Reid refused to adopt common sense spending cuts and instead amended H.R. 3630 to only extend the tax cut for two months.  In response, the U.S. House of Representatives voted to send H.R. 3630 to a Conference Committee, where each Chamber will choose Members to work together in a bipartisan fashion to merge the House and Senate versions of H.R. 3630 into a final bill.

I voted in support of sending H.R. 3630 to Conference because I believe Congress should work together to resolve the differences within H.R. 3630 before the end of 2012, so we can extend the payroll tax cut for an entire year, not pass a short term delay so that Members of Congress can begin their Christmas vacations.  Since our nation was founded, when both Chambers disagree on certain pieces of legislation, they have been able to rectify the difference through a Conference Committee.  Just because the timing is inopportune for some Members doesn't mean we have an excuse to ignore the Rules of Congress.

There is overwhelming bipartisan support for extending the payroll tax cut for an entire year. In fact, President Obama stated, "It would be inexcusable for Congress not to further extend this middle-class tax cut for the rest of the year," and House Minority Leader Nancy Pelosi echoed those comments saying, "House Democrats will return to Washington to take up this legislation without delay, and we will keep up the fight to extend these provisions for a full year."  Despite this bipartisan support, Majority Leader Reid refuses to negotiate with the U.S. House of Representatives in a Conference Committee.

Please know I fully intend to actively work to accomplish our work in Congress before the year's end. You can also be assured that I will only support legislation that does not create more volatility in our economy.  Rather, I will support legislation that will provide certainty for the American people and in the marketplace, and enables the private sector to create jobs in America.

Honored to serve you,
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