Breaking

News

McConnell proposes postponing impeachment trial until February

IMG_6816.jpg
Just in....
McConnell proposes postponing impeachment trial until February

3 soldiers dead after military helicopter crashes in New York

FHA once again backing DACA mortgages

Biden’s paused student loan payments and put interest rate at 0%

President Joe Biden Executive Order On Immigration

A HISTORIC INAUGURATION DAY

President Trump leaves White House for the final time, skipping Biden inauguration

President Trump pardons 73 people hours before leaving the White House on Inauguration Day

12 National Guard members removed from Biden's inauguration over reported ties to militias

WATCH: President Donald Trump released a farewell address

Treasury secretary says there's no payroll tax cut in GOP stimulus bill

Treasury Secretary Steven Mnuchin said a payroll tax cut will not be included in the forthcoming legislative package expected to be rolled out by Senate Republicans.



Mnuchin said the President's "priority for the moment is to get money into Americans quickly and one of the problems with the payroll tax cut is it takes time."



He unsuccessfully pressed for one earlier in the year, and renewed comments this week make it clear the policy remains a key White House priority. But a growing number of Republicans aren't in favor of the idea and most Democrats don't support it.

Payroll tax cuts have had mixed results in the past, and some economists argue that it's not the best way to boost the economy right now.

A payroll tax cut would reduce the amount taken out of workers' paychecks to fund federal programs including Social Security and Medicare. Congress would have to decide how much to reduce the rate and how long the tax holiday would last.


Currently, workers pay about 7.65% of their wage and salary incomes. Employers match the amount while those who are self-employed pay both shares, though they get to deduct the employer portion.



2020 ALL NEW DIGITAL PRIVACY POLICY

  • Instagram
  • Facebook

2020 ALL NEW DIGITAL PRIVACY POLICY