Congressman Ted Deutch has signed on as a cosponsor of H.R.3743, the Temporary Payroll Tax Cut Continuation Act of 2011. The payroll tax cut went into effect a year ago and has provided $110 billion of tax relief to 159 million American workers. While President Obama has called on Congress to extend and expand the payroll tax cut, partisan bickering has prevented a complete extension of the tax relief.
Economists have warned that failure to extend the payroll tax cut would hurt the still fragile U.S. economy and job growth. Congressional Republicans have opposed extension of the payroll tax cut, especially if it is paid for by placing a small surtax on those earning more than $1.1 million a year. Congressman Deutch believes that after years of passing tax cuts that have disproportionately benefited America's wealthiest income earners, it is time to provide middle class Americans the type of tax relief we need to boost consumer confidence and create jobs.
To read the original bill text of H.R. 3743, click here.