WASHINGTON - The top Republican on the House Ways and Means Committee Kevin Brady (R-TX) today introduced the Support for Workers, Families, and Social Security Act. This legislation ensures that workers, families, and small businesses can have financial relief and certainty by creating a temporary payroll tax holiday from September 1 through Dec. 31, 2020 for all workers.
“The essential workers who keep this country running through the pandemic deserve a pay raise. This bill forgives the payroll taxes deferred by President Trump to help working families, many of whom now rely on a single paycheck. I call on Congress, including Democrats who forgave these payroll taxes twice for President Obama, to act now to help our essential workers keep more of what they work so hard to earn. We’re not through this pandemic yet, and this will help local economies, create certainty for businesses, and safeguard Social Security," said Ways and Means Republican Leader Kevin Brady.
Payroll taxes are the largest tax most workers pay.
For a family of four earning a total of $120,000 a year, this payroll tax holiday is a $2,480 tax cut.
For a single mom making $55,000 a year, this payroll tax holiday is a $1,137 tax cut.
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SUBCOMMITTEE: Social Security
