Coats Opposes Deal Adding $89 Billion to Deficit

WASHINGTON, DC – Senator Dan Coats (R-Ind.) today made the following statement after voting against legislation that would extend the two percent payroll tax rate:

“While I have always favored lower taxes, this payroll tax holiday misleads the American people. The legislation reduces contributions to the Social Security Trust Fund and hands the tab to our children. This is a shell game that will weaken an already fragile Social Security program and add another $89 billion to the deficit."

The Congressional Budget Office (CBO) estimates that the legislation will add $89.3 billion to the deficit over 10 years. The legislation passed the Senate 60-36.

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