Latest News
Rep. Brady Floats Bill to Forgive Payroll Taxes Deferred Under Trump Order
While it’s not at all likely to become law, Rep. Brady (R-TX), the ranking member of the House Ways and Means Committee, introduced The Support for Workers, Families and Social Security Act last Friday. The bill would create a temporary payroll tax holiday from Sept. 1 through Dec. 31, 2020, for all workers. General tax revenues would replace the lost income stream to the Social Security Trust Fund. Liberal groups pounced hard, as expected, as they usually seek to increase taxes and/or increase Social Security benefits when it comes to that program. The full article on Brady’s bill by ThinkAdvisor’s Melanie Waddell is here.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.