Cole Urges One-Year Extension of Payroll Tax Holiday
WASHINGTON, D.C. – Rep. Tom Cole (OK-04) released the following statement after the House of Representatives voted to work with the Senate to extend the payroll tax holiday for one full year. On December 13, the House passed the Middle Class Tax Relief & Job Creation Act, which would extend the payroll tax holiday for one year, reform and extend unemployment benefits, protect access to doctors for Medicare beneficiaries, and accelerate a decision on the Keystone pipeline. The Senate payroll tax plan would only extend the tax cut for two months.
"The Senate plan is simply unworkable and unfair to the American people. The nation's payroll processors overwhelmingly oppose a two-month extension because it is almost impossible to implement and creates unnecessary hardship and uncertainty.
"House Republicans are committed to extending the payroll tax holiday for a full year, and we passed a bill to do that. Now 160 million Americans may be hit with a tax increase in two weeks because Harry Reid and Senate Democrats chose politics over policy. The Senate should come back from vacation and join the House in passing a responsible, one-year plan."