Payroll Tax “Holiday” Deadlock

2018-05-15T16:22:02+00:00December 21st, 2011|Budget, Max Richtman, Medicare, Social Security, stimulus|

Washington Should Pursue New Middle-Class Stimulus Plan in the New Year

So, it’s been another wild week in Washington as passage of a stimulus plan that once seemed a foregone conclusion faced unexpected defeat in the House.You don’t have to look far to see the hundreds of millions of reasons why this nation needs a stimulus package.For the unemployed now scheduled to lose their unemployment insurance benefits to America’s seniors on Medicare this legislation also included critical provisions necessary for their survival.However, this failure in Washington could havea happy ending. We say, let’s use this opportunity to craft a new stimulus approach–one that doesn’t use general revenue to replace diverted Social Security payroll contributions. Here’s reaction from our President/CEO, Max Richtman:

?Providing a middle class tax cut to help spur the economy is the right policy but cutting the contributions that fund Social Security is the wrong strategy. The House?s refusal to pass the Senate?s compromise stimulus plan now provides Washington an opportunity to craft a stimulus package that benefits average Americans without diverting funds from Social Security. We urge the White House and Congress to welcome the New Year with a new initiative promoting the most effective economic stimulus plan possible regardless of the partisan politics involved. There are more effective forms of stimulus which Congress should pass, such as the ?Making Work Pay? tax credit. Now?s the time to reframe the stimulus debate. Allowing millions of unemployed Americans, low-income seniors on Medicare, and Medicare doctors to face massive cuts or loss of benefits through Congressional inaction is simply unacceptable. Congress should act this year to pass these measures which have bipartisan support. Rather than beginning the New Year rehashing an old debate, we urge Washington?s leaders to throw out the political playbook and fight for the strongest possible stimulus package for America?s middle-class that doesn?t divert funds from Social Security.?? Max Richtman, NCPSSM President/CEO