| Allow me to extend a warm and cordial greeting to you and to your family and friends.
On December 31st, the payroll tax cut is set to expire. This tax reduction lowered the employee portion of the Social Security payroll tax from 6.2 percent to 4.2 percent for 2011 – providing up to $1,500 back in your pocket last year.
Extending the payroll tax cut would give tax relief to 160 million Americans in 2012. In Texas last year, 11.4 million people benefited and $7.7 billion dollars were put back in American’s wallets, which is a welcomed economic boost to families that can help spur consumer spending.
While Democrats in Congress support the middle-class by extending the payroll tax cut, House Republicans oppose it. If the extension expires, taxes will increase for the middle-class. For more information on what this means for you and the economy, please visit http://tinyurl.com/6olvxty.
Find out how much stalling the payroll tax cut extension will cost you and your family below:
As always, it is my honor to represent you in Congress. Should you need assistance with a federal issue, please do not hesitate to contact my offices – links to contact information may be found below.
Congressman Henry Cuellar