Sen. Sherrod Brown, D-Ohio, touted his efforts to renew a payroll tax cut Wednesday, which he and other Democrats say is vital to revving up the stalled economy.
The tax cut is set to expire at the end of this year. If Congress doesn’t act, the vast majority of Americans will see smaller paychecks come January, with the full 6.2 percent payroll tax deducted, instead of the current 4.2 percent.
Brown is a chief co-sponsor of legislation that would extend and expand the tax cut. He wants to reduce it in half, to 3.1 percent, for one year, a move he said would put an extra $1,430 in the bank account of an average Ohio family. His office released specific county-by-county figures today. The White House has also released state-specific data on the impact of the tax cut.
An extension of the cut will give families “more money to spend on necessities like gas and food, and their mortgages and rent,” Brown said, arguing that it will also help small businesses.
To read the rest of the article, click on the source link above.Brown pushes bill to extend payroll tax cut »