But the most important thing they did was payroll tax relief for a year.
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The House passed legislation Thursday giving companies that hire the jobless a temporary payroll tax break.
He said the economy is speeding up, but depended on extending payroll tax cuts.
For now, Washington seems more focucsed on quick fixes, like reducing the payroll tax.
The payroll tax holiday is the silliest idea in this triptych of terrible tax policy.
The payroll tax has become more and more important to U.S. finances since 1980.
On the employer side, for this year, payroll tax contributions for federal purposes remain the same.
In addition, the President has called for extending the payroll tax cut to small business.
The payroll tax cut is I think an extremely sensible way of doing that.
The payroll tax relief applies only to wages from March 19, 2010 to December 31, 2010.
The House back-benchers now demand a one year extension of the payroll tax holiday.
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The payroll tax cut extensions were pushed through without offsets in revenue or spending.
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Taxes too, for the accounts could be expanded over time to replace the payroll tax entirely.
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One would create a payroll tax break (aimed at employers instead of workers this time).
Funds from the payroll tax currently go into the federal Treasury, albeit off budget.
The one bright side is that Denmark has a smaller payroll tax, borne by the employer.
It urged cost controls such as a payroll tax on rich clubs to finance poorer ones.
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The proposal extends the payroll tax cut for employees and reduces it to just over 3%.
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The increase in payroll tax decreases the amount of marginal dollars many consumer will have.
But, there also are pernicious consequences of the new payroll tax affecting wages and salaries.
It is essential, too, that Congress act to extend the payroll tax cut and unemployment insurance.
Last year, we worked together, Republicans and Democrats, to pass a payroll tax cut.
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The current Social Security payroll tax is 12.4% (there is an additional 2.9% for Medicare).
You could raise the tax on everybody, so everybody's payroll tax goes up a little bit.
Senate Democrats put forward a way to pay for this payroll tax cut extension and expansion.
The safety net for the unemployed needs extension along with the payroll tax abatement.
We hear some Republicans are nervous about this payroll tax debate, but they shouldn't be.
Congress will be afraid to restore the payroll tax back to its previous level.
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Yet some economists believe that extension of the payroll tax cut will stimulate the economy.
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And we are interested in payroll tax cut being very much part of that discussion.
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