Fighting for the Payroll Tax Cut
After helping lead the fight to secure a bipartisan agreement in the Senate for a two-month payroll tax cut, Chairman Baucus will work in the coming weeks to extend that tax relief for the full year. Middle class families are stretching every paycheck to cover their bills, and payroll tax relief is an enormous help to them and to our economy as a whole. Beyond putting $1,000 in the pockets of the average American family over the course of the year, the payroll tax cut will help create hundreds of thousands of jobs and spur hundreds of billions of dollars of economic growth in communities across the country.
Read more about the payroll tax cut
»
Putting America Back to Work
Chairman Baucus is working on several fronts to create jobs and put people back to work. Enacting the free trade agreements with South Korea, Colombia and Panama will create jobs and open new markets to American ranchers, farmers and businesses, and renewing Trade Adjustment Assistance in tandem with those agreements will guarantee that U.S. workers have the resources they need to prosper in the global economy. A simpler, fairer tax code will create certainty for businesses and families and help them make wise, job-creating investments. And a smart, balanced deficit reduction package will stabilize the American economy and promote long-term growth.
Learn more about Chairman Baucus’s work to create jobs
»
About the Finance Committee Leadership
The Senate Finance Committee is led by Chairman Max Baucus (D-Mont.) and Ranking Member Orrin G. Hatch (R-Utah). Senators Baucus and Hatch have served together on the committee since 1991. The Finance leaders pride themselves on working together to create meaningful legislation that can garner broad support in the Senate. They have worked together on bills in all areas of the Committee’s jurisdiction from tax and health issues to trade and Social Security.
Learn More about the Committee
»
Simplifying the Tax Code
Done right, tax reform can create jobs and provide a significant boost to the economy. More than 15,000 changes have been made to the code since the last major reform effort in 1986, making compliance extremely difficult and causing distortions in the economy. Chairman Baucus’s recent hearings on tax reform have examined ways improving and simplifying the tax code can help create jobs, minimize economic disparities, encourage shared growth, ease compliance for families and businesses and prevent dangerous buildups of debt. He has also worked to close offshore tax loopholes and pushed for an end to wasteful subsidies like those that go to the largest multinational oil companies.
Learn more about tax reform and job creation
»
