McKinley Votes Against Temporary Payroll Tax Holiday

Statement

Rep. David B. McKinley, P.E. (R-WV) voted on Friday against yet another payroll tax holiday extension. The bill, H.R. 3630, will add $89 billion to our national debt since it is entirely unfunded according to the Congressional Budget Office. McKinley has voted in opposition to every temporary payroll tax holiday proposal since December.

"This payroll tax holiday has been in effect for more than a year, and we don't have much to show for it. It's not worth jeopardizing the Social Security Trust Fund again and putting $89 billion in more debt to implement an election year band-aid that doesn't work. Nearly 13 million Americans are currently looking for work and our unemployment rate lingers close to Great Depression levels. There is simply no evidence that proves a temporary extension will solve our economic misfortunes.

"Adding $89 billion to our nation's debt is simply unacceptable. Our children and grandchildren are depending on us to ease the massive burden of debt. We have spending problem in Washington, yet President Obama continues to make it worse. Further, we cannot continue to allow Washington to raid the Social Security Trust Fund for their political giveaways. It's wrong for our seniors and wrong for future retirees.

"Finally, the evidence is clear that temporary tax holidays do not encourage employers to hire more workers. If our President wants to create real change, let's all come to the table to produce comprehensive, long-term tax reform and spur lasting economic growth."

Source