Baucus Will Continue To Fight To Extend Payroll Tax Cuts
Senator Max Baucus has pledged to continue fighting to extend the payroll tax cut for Montana workers after an initial vote to extend the cut failed in the Senate on Thursday. Experts Say the Tax Cut Put $300 Million Back in the Hands of 600,000 Montana workers in 2011 and failure to extend Will Cut the GDP by 1.5 Percent
Baucus says “‘it is a shame we we not able to come together and pass the payroll tax cut extension for working folks but I’ll keep fighting until we get it done, and I’m confident we will get it done, because we have to.”
The current payroll tax holiday cut payroll taxes for Montana workers by 2 percentage points in 2011. It expires in December.Baucus voted to extend the payroll tax holiday and increase the cut to 3.1 percentage points. The package Baucus supported would have also expanded the payroll tax cut to businesses as well.