(U.S. SENATE) – Senator Jon Tester today released the following statement after extending the payroll tax cut through the end of 2012, saving the average American worker about $1,000:
“Extending the payroll tax cut and protecting Medicare bring much-needed certainty to Montana families and seniors. This bipartisan plan is what our economy needs as it begins to improve and create more jobs.”
According to the Treasury Department, the payroll tax holiday benefited 600,000 Montana workers in 2011, saving taxpayers an estimated $300 million.
Today’s agreement avoids a 27 percent cut to Medicare reimbursement rates, ensuring that seniors have access to their doctors through Medicare. The agreement also affects reimbursement rates for Tricare, the Defense Department health care plan for military retirees and dependents.