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BenefitsPro: Trump Seems to Walk Back Payroll Tax Holiday

Chad / 22 Aug 2019

BenefitsPro

A payroll tax holiday is “sold as a way to stimulate the economy, but all it does is shortchange the future,” Ubiquity’s founder and CEO Chad Parks told BenefitsPro.

Analysis from the Committee for a Responsible Federal Budget, a bipartisan think tank, shows that a 2 percent payroll holiday would cost nearly $300 billion, before interest, if enacted for two years in 2020.

While the idea appears to have been shelved by the White House for the time being, it could re-emerge if looming recession fears accelerate in front of the 2020 election.

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San Francisco, CA 94104
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© 2019 Ubiquity Retirement + Savings
Privacy Policy
44 Montgomery Street, Suite 3060
San Francisco, CA 94104
Support: 855.401.4357

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