WASHINGTON, D.C. - U.S. Senator Bob Casey, Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after presiding over a hearing entitled “Fiscal Cliff: How to Protect the Middle Class, Sustain Long-Term Economic Growth, and Reduce the Federal Deficit:”
“I was encouraged that we had an open discussion about the path forward for our economy and, in particular, ensuring that we create jobs and protect middle income families while we responsibly deal with the deficit and debt. It is clear that we need an approach to the fiscal cliff that is balanced, bipartisan and includes measures that help businesses create jobs.”
This week the JEC released a report on the payroll tax cut’s positive impact on the economy in 2012, finding that it increased consumer spending, supported job growth, and bolstered the Social Security Trust Fund by increasing the number of employed Americans paying in to the system.
Chairman Casey’s opening remarks are available here.