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.