On January 1, 2013 the Payroll Tax Cut expired. On their next paycheck, American families will see a decrease of 2%. Although we have emerged from the Great Recession, economic times are still difficult for many American Families. This direct withdraw from take home pay will adversely impact the American People at a time when our economic recovery is fragile.
While we believe that this tax cut should have been included in the Fiscal Cliff negotiations, we urge the WHite House to push to renew the Payroll Tax Cut in upcoming negotiation with Congress. Success will mean greater purchasing power for the middle class and an increase in economic activity.