Payroll tax

Congress passes two-month tax deal; Obama signs it into law

Congress passes two-month tax deal; Obama signs it into law

In the end, the long-debated, often-delayed, more often gridlocked budget deal came down to a couple of voice votes in the near-empty chambers of the House and Senate, approving a $33 billion spending measure that keeps the payroll tax rate at 4.2 percent through the end of February. But the debate is far from over. […]

Social Security advocates say tax cuts will hurt program

Social Security advocates say tax cuts will hurt program

President Barack Obama’s plan to cut payroll taxes for a year would provide big savings for many workers, but makes Social Security advocates nervous that it could jeopardize the retirement program’s finances. The plan is part of a package of tax cuts and extended unemployment benefits that Obama negotiated with Senate Republican leaders. It would […]