TaxAdministrationCongress urged to grant payroll tax holiday

Congress urged to grant payroll tax holiday

Small business group says six-month payroll tax holiday would boost economic recovery package

The US Congress should pass a six-month payroll tax holiday as part of any
economic stimulus package being considered over the next weeks, the National
Federation of Independent Business has said.

A survey by the small business group found that small business owners are
feeling the impact of the current economic recession, finance newswire WebCPA
reported.

Half of those surveyed reported falling profits.

Eliminating the 6.2% payroll tax on employer would decrease the cost of labor
and would help employers keep people working during this period of slowing
economic growth, the NFB said.

Further reading:

NFIB Lobbies for
Payroll Hike “Holiday”

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