Executive Calendar
Floor Speech
In fact, back in March, I pushed for Congress to include a payroll tax cut in the CARES Act, and I still support that today because the payroll tax cut is about supporting workers who might have had their hours reduced.
These are workers who are living paycheck to paycheck, workers across our country who are struggling to make ends meet because of the impact of COVID-19 on our economy.
Allowing folks to keep more of their hard-earned money could make a big difference. It would provide immediate support--immediate support-- for Montana's families who are struggling to get by. And, importantly, we ensure that this will have no impact--zero impact--on Social Security because we transfer money from the general fund to the Treasury.
This is not a new concept. It has been done by Congress. In fact, it was done under the Obama administration. As an example, a Montanan who earns an annual salary of about $40,000 typically pays about $2,500 in payroll taxes every year. Forgiving the taxes deferred during this 4- month payroll tax deferral would save that Montanan about $827.
What we should be doing is working together to pass a COVID relief package that delivers much needed aid for families who have had a tough go the last several months. And it is going to get tougher going forward, not only for these families but workers and small businesses.
Instead, my colleagues across the aisle have continued to block very targeted relief, several times, right here on the floor of the U.S. Senate, which is holding Montanans and the American people hostage. We should come together and agree on this targeted relief. We can continue to disagree on these other items, but let's get this targeted relief package passed.
So instead of coming to the floor today to try to pass a bill that undermines a payroll tax holiday to save folks more of their hard- earned money, I urge my colleague here before us to work with Members of his caucus and get the COVID-19 relief passed.
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Mr. DAINES. Mr. President, I appreciate the Senator from Maryland raising these points. In regard to the proposal of the bill that was passed by Nancy Pelosi, the Speaker of House, the reason we didn't take a vote on that bill in the U.S. Senate is because it was full, basically, of her wish list of many items that didn't really relate to COVID-19 relief. We did put a targeted bill on the floor of the U.S. Senate in the amount of $600 billion that, frankly, addressed many of the issues that the House had in their bill, and we had many issues that we agreed on here in the Senate that would be at least targeted. This is about the Paycheck Protection Program. This is relief for schools. This is resources for the vaccine, for additional PPE, for additional testing. It is a long list, including relief for the U.S. Postal Service. Of course, I would hope that you would support it, but we were blocked from even bringing that bill to the floor of the U.S. Senate. We couldn't get to debate on that bill in September when it came before the U.S. Senate.
I appreciate these points. Obviously, we have a disagreement. President Trump pushed for Congress to pass a payroll tax cut. I would rather see a cut, not a deferral. That is the way to really help workers across this country. When Congress failed to act in July, the President enacted that deferral as a way to provide immediate relief to the American people. I would ask that we come together and let's forgive those taxes. Forgive them, and they won't be getting a surprise tax increase if we do that.
Mr. VAN HOLLEN. Mr. President, just very briefly in response, I think everyone knows what is going on here. This is a very simple proposal. If you want to participate in President Trump's deferral, you can continue to participate in the deferral program. But if you are in the Armed Forces or are a Federal employee and you are being required to do that right now and you don't want to, we should let them opt out. That is all this is about, and I am really surprised that our Republican colleagues would block members of our Armed Forces and Federal employees from making a simple choice which they believe is in their best interest.
So I am disappointed with the objection and will continue to pursue this.
Thank you.
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