U.S. Congressman Jim Cooper (TN-05) issued the following statement today upon House passage of H.R. 3630, which extends the payroll tax cut but does not pay for it, adding more than $100 billion to the deficit in 2012:
"This is only a 10-month law, but a yes vote will increase the deficit by $100 billion, or $10 billion a month for the rest of 2012. That's outrageous and that's why I voted no. Congress should be shrinking the deficit, not increasing it."