Congressman Dave Loebsack released the following statement on the status of efforts to extend the payroll tax cuts, Medicare reimbursements and unemployment insurance. If this tax cut is allowed to expire, a typical American family making $50,000 a year would see their taxes go up by $1,000.
"Right now, my number one priority is to ensure working families across Iowa do not see their taxes raised by $1,000 come January 1. That is why I was one of only six members in the entire House of Representatives who was willing to put aside these political games and buck both parties' leadership by supporting both my preferred plan and willing to compromise on a second plan. I do not support many of the provisions in the House passed bill and prefer the proposal that would provide a larger payroll tax cut. However, with the paychecks of hardworking Iowans on the line, it is time to move beyond the politics of government shutdowns, holding the economy hostage over debt ceiling debacles and Super Committee failures. I will continue to work to find a compromise that will be signed into law, provides middle class tax cuts and fixes the flaws in the House passed bill."
Last night, Loebsack was one of six members in the House of Representatives who voted for both the Democratic alternative to extend the payroll tax cuts, Medicare reimbursements and unemployment insurance, as well as the final bill that passed.