Job Creators Network Applauds Brady Bill to Codify Trump Payroll Tax Holiday
Washington, DC (September 11, 2020) — Today, Rep. Kevin Brady (R-TX), Ranking Member of the House Ways and Means Committee, introduced legislation that would codify President Trump’s executive order suspending the payroll tax. Rep. Brady’s bill, the Support for Workers, Families, and Social Security Act, would create a temporary payroll tax holiday from September 1 through December 31, 2020 for all workers while ensuring that Social Security is funded.
“Representative Brady’s bill is exactly what America’s businesses and workers needs to take full advantage of President Trump’s executive order and accelerate our recovery. This bill puts real money into the hands of America’s workers – about $2,450 for a two-earner couple with total household earnings of $120,000 per year. Furthermore, it ensures that Social Security is funded while giving certainty to businesses and workers. Joe Biden has said that if he’s elected President, he will force everyone to pay the money back. This would effectively be a tax hike during a time of economic distress. In 2011 and 2012, President Obama and congressional Democrats implemented a payroll tax cut with Republican support. Republicans at the time didn’t care about giving Obama a ‘win.’ They did what’s best for the country. Now it’s time for Democrats to start doing the same.”
In March and July, JCN sent letters to congressional leaders urging them to pass a temporary, targeted payroll tax cut. To read the July letter, click here.