Levin Says Payroll Tax Cut Extension Will Provide Economy With 'Critical Boost'

"We began our work as a Conference Committee in the shadows of a narrowly avoided year-end crisis brought about by Republican intransigence. There was a need to move on all these key elements: to extend the payroll tax cut, maintain the federal unemployment insurance programs and ensure continued access to the doctors of choice for seniors and the disabled.

"This agreement provides tax relief to working families, certainty that a framework for unemployment is in place for the year, and a real commitment by Democrats to aggressively continue to pursue efforts to strengthen the economy and boost job growth so that those hardest hit by the recession can return to work as they so desperately want to do."

"We have succeeded in renewing the payroll tax cut that will provide both our economy with a critical boost necessary to continue our recovery and 160 million Americans with a significant increase in their paychecks.

"Federal unemployment insurance has provided millions of Americans with a vital lifeline during the economic downturn. The House Republican plan would have slashed federal benefits by nearly half and imposed onerous new barriers to unemployment insurance for those laid off through no fault of their own. This agreement rejects that proposal. It is structured to provide the maximum number of weeks to states hardest hit by the recession and gradually reduce levels of benefits based on unemployment rates in various states. It is far from perfect, but it does maintain vital benefits for those who have lost their jobs through no fault of their own.

"It prevents cuts to Medicare physician payment rates and ensures seniors can maintain access to their health care providers during the next 10 months. Unfortunately because of Republican opposition, we were unable to achieve a more permanent solution. The agreement rejects the Medicare beneficiary cuts proposed in the House Republican plan and the Republican attempt to undermine health reform's mission of expanding coverage to millions of Americans."