Payroll Tax Holiday Bad Break for Families

Washington December 16, 2010 —Today, U.S. Reps. Lloyd Doggett (D-TX), Peter DeFazio (D-OR), Ted Deutch (D-FL), Rush Holt (D-NJ) and Judy Chu (D-CA), along with Max Richtman, Executive Vice President of the National Committee to Preserve Social Security and Medicare, held a press conference during which they expressed concern over the Senate-passed tax cut deal’s impact on the bedrock of seniors’ retirement: Social Security.  During the press conference, Rep. Doggett announced his plan to present an amendment to the Rules Committee to strike the payroll provision from the tax deal.
“Social Security’s dedicated funding base is jeopardized by this deal in an unprecedented way and there is a grave risk now that the retirement benefits of America’s workers will have to compete with our other priorities for a share of the general budget.  It would result in Social Security being as dependent on annual Congressional action as public television or our National parks,” said Rep. Doggett.

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