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Senate Passes Tax Cut Deal; Toomey Has Serious Reservations

Senator Toomey appeared critical this week of the proposed tax cut compromise between President Obama and Senate Republicans. The deal would extend the Bush-era tax cuts for two years, extend unemployment benefits for an additional 13 months, and create a payroll tax holiday. It passed the U.S. Senate today by a vote of 81-19.

Toomey said Monday that he believes the proposal doesn’t do enough to ensure economic growth.

“Unfortunately, this deal only gives 2 years worth of certainty on the tax front. That’s better than nothing, but it’s not what I’d like to see,” said Toomey.

Toomey concluded his Monday tour of Central Pennsylvania business organizations at Select Medical, a Mechanicsburg-based health care company. There Toomey emphasized his view that making the Bush-era tax cuts permanent would foster economic growth.

“What we really need to do is make the current tax rates permanent, take away the threat of a huge tax increase, and provide the certainty so that business an entrepreneurs can plan.”

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