Statement from Rep. Young on Payroll-Tax Holiday Extension
February 17, 2012
After voting to pass legislation that would, among other things, extend the payroll tax holiday through the end of the year, Alaska Congressman Don Young released the following statement:
“Although this isn’t a perfect bill, it’s the right thing to do for the American people,” said Rep. Young. “Passing this bill today means hardworking Alaskans will not see their taxes raised by as much as $1000 a year and Alaska’s Medicare providers will not see a crippling rate decrease. While I would have rather seen this bill paid for in full, there were several crucial provisions in this bill that are critical such as reforming the unemployment insurance system and repealing another pillar of Obamacare.”
Some notable provisions in this bill:
- An extension of the payroll tax holiday for approximately 170 million working Americans through December 31, 2012.
- Provision commonly referred to as the “Doc Fix” that will prevent a 27.4% rate cut that is scheduled for doctors that accept Medicare patients.
- In exchange for extending unemployment benefits for the American people, starting December 31, 2012, people will only be eligible to receive unemployment benefits for a maximum of 63 weeks. This is a reduction from the current number of weeks (86) an Alaskan can receive unemployment benefits.
H.R. 3630 passed the House of Representatives by a vote 293-132.