Cole Statement on Payroll Tax Cut Extension
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after the House of Representatives approved legislation to extend the payroll tax cut for the remainder of 2012. The legislation also reforms and extends unemployment insurance and prevents cuts to reimbursement rates for physicians who treat Medicare patients:
"This is not the solution I would have preferred, but taxpayers should not be punished because Democrats refuse to agree to sensible spending cuts. In addition to providing certainty to taxpayers, this legislation includes important reforms to prevent abuse of unemployment benefits. Resolving this issue prevents a tax increase for 160 million Americans and allows Congress to focus on saving trillions of dollars through comprehensive budget reform."