February 17, 2012 – Today, Nebraska’s Senator Ben Nelson made the following statement after the Senate voted 60-36 to extend the payroll tax cut through the end of the year:
“Today’s compromise prevents an imminent tax increase for one million Nebraskans. It will keep money in their pockets to use for food, clothing and daily expenses, while making sure the Social Security Trust Fund is protected.
“The economy is still quite fragile and letting the payroll tax cut expire at the end of this month would slow down the recovery. It would reduce consumer demand, as middle-class families would have less disposable income for goods and services. Businesses of all sizes have said that consumer demand is what drives them to hire new employees and expand.
“Now that this middle-class tax cut has been extended, the best thing Congress can do is pursue comprehensive tax and budget reform to address persistent deficits and debt that have become standard over the last decade. I’ll work with any of my colleagues who want to lay partisanship aside and work on this in an honest way.”
The legislation also extends unemployment insurance and protects Medicare patients’ ability to see their doctors. The president has said he will sign it into law.
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