President Trump has suggested a Federal payroll tax cut as a way to put more money in your pocket, the cut would reduce the amount taken out of workers' paychecks to fund federal programs including Social Security and Medicare.and Congress would have to decide how much to reduce the rate. Congress would also determine the length of time the cut would last. Many elected officials are not in favor of the move feeling that it doesn't do enough for those in real need, and only hurts the funding of Federal programs. A similar move in 2011 reduced federal tax revenue by $112 billion in its first year it was then extended through 2012 and cost the Federal coffers an additional $115 billion,
The move does nothing for anyone who is currently unemployed, and many Senators believe it's a public relations nightmare because of the funding of Social Security and Medicare.
Should POTUS cur the Federal payroll tax? THURSDAY 60 MINUTE POLL