On the recordDecember 5, 2011
Mr. President, I am here to speak about legislation I am introducing today that will prevent a huge tax hike from hitting working families across America and in Pennsylvania. As the clock continues to tick down, it is imperative we come together--Democrats and Republicans, Members of both parties, in both Chambers--and pass legislation to provide more take-home pay by cutting the payroll tax, as we did in 2010. The legislation I am introducing is a compromise offer designed to bridge the gap and to get at least 60 votes in the Senate. The legislation is fully paid for and includes measures that have received bipartisan support in the past. We can no longer afford to jeopardize middle-income Americans in order to protect the wealthiest few across our country. This legislation will help working families by extending the current payroll tax cut and expanding that cut to a 3.1-percent level--a 3.1- percent reduction in the payroll tax. In essence, what we are talking about is cutting the payroll tax in half as it relates to employees. Small businesses will benefit from this legislation by benefiting directly from the additional money in the pockets of Americans across the country. Those with incomes above $1 million should help in carrying a portion of this burden, and that is why the surtax is still in this legislation, but the surtax will now be only 1.9 percent, compared to the 3.25-percent in an earlier version of my legislation.…





