Tax Cut Expires at End of Month – Failure to Extend Would Hurt Reading’s Economy
READING, PA – Today, U.S. Senator Bob Casey (D-PA) announced that extending the payroll tax cut through 2012 would mean nearly $500 in added take-home pay for the average Berks County worker or almost $1,000 for a family with two workers. With the tax cut expiring at the end of the month, Casey called on Congress to pass a yearlong extension right away.
Extending the payroll tax cut through 2012 would mean nearly $500 in added take-home pay for Berks County workers. casey.senate.gov/newsroom/press…— Senator Bob Casey (@SenBobCasey) February 6, 2012
Standing at Reading City Hall, Senator Casey was joined by Mayor Vaughn Spencer and Berks County resident Wanda Rodriguez, who detailed the impact that the added take-home pay from the tax cut would have on her and her family.
“Extending the payroll tax cut through the rest of 2012 will mean nearly $500 in added take-home pay for workers in Berks County. $500 or $1,000 is a significant amount of money that will help working families and improve Reading’s economy,” Casey said. “Congress needs to come together in a bipartisan way to extend the payroll tax cut and make sure working families in Berks County can plan their budgets knowing they’ll have extra money at the end of the month.”
According to a report by the Joint Economic Committee, of which Senator Casey is the chair, the average Berks County worker would see $488 in added take-home pay from extending the payroll tax cut through 2012 and a family with two workers would see $977 in added take-home pay. Senator Casey, as Pennsylvania’s Senator, has been leading the fight to extend the payroll tax cut through 2012.