WASHINGTON – U.S. Senator Bob Corker, R-Tenn., today voted against both the Republican and Democratic proposals to extend the temporary payroll tax cut for one year, believing the proposals undermines the type of tax reform that leads to long-term economic growth. Neither proposal received enough votes to advance.
“This extension is yet another example of Washington’s benefit now, pay later mentality, and it moves us further away from solving our long-term spending and deficit problems. We need to simplify and flatten our tax code in a way that eliminates loopholes, broadens the base and reduces rates across the board, making it more efficient and conducive to long-term growth. There seems to be a lot of bipartisan consensus around these concepts, but this extension takes us in the opposite direction. It’s not the way to govern a country that has the huge economic, spending and deficit issues we have right now,” said Corker. “In addition, funding Social Security in this manner turns it into a welfare program over time.”