REED SUPPORTS STAND-ALONE PAYROLL TAX EXTENSION PROPOSAL

Congressman Tom Reed is urging support for House leadership’s proposal to extend the payroll tax holiday as a stand-alone measure. “Last week I called for the House to consider extending the payroll tax holiday as a stand-alone measure,” Reed said. “Washington already takes too much from taxpayers, and time is running short to extend the tax holiday before it expires on February 29.  I am committed to forging an agreement in the House Senate conference committee, but as the deadline approaches it is wise to begin moving forward on a stand–alone extension to prevent a tax increase on 160 million hard working taxpayers.”

Reed further noted that Social Security must be protected in any tax extension. “I remain concerned about the impact of the tax holiday on Social Security,” Reed said. ““As a member of the payroll tax conference committee, I will work with my colleagues to ensure that a tax extension will be done in a manner which does not threaten Social Security’s fiscal health.”