Tax Policy Center

temporary tax cut

Federal Budget and Economy: TaxVox
After much anguish, Congress finally extended this year’s payroll tax cut for two more months. The final bill passed in nearly empty chambers a couple of days before Christmas. But this version differed in an important way from the measure passed by the Senate just a few days earlier. The final
December 28, 2011Roberton C. Williams
Federal Budget and Economy: TaxVox
The fate of The Temporary Payroll Tax Cut Continuation Act of 2011 remains uncertain. But thanks to a carefully crafted technical change to the current payroll tax cut, the Senate version prevents a handful of very high wage earners from potentially enjoying a huge windfall from the two-month tax
December 19, 2011Roberton C. Williams