According to the Washington Post, there is discussion among senior White House officials to advance a temporary payroll tax cut as a way to limit the economic slowdown forecast by economists.
Questions:
- When and how much was the last payroll tax cut and why was it made?
- Payroll tax cuts add dramatically to the deficit and what else is affected?
- Some administration officials have felt that planning for an economic downturn might fuel what other types of problems?
Source:
Paletta, D. (2019). White House officials eyeing payroll tax cut in effort to reverse weakening economy. The Washington Post, Aug. 19 (Retrievable online at https://beta.washingtonpost.com/business/economy/white-house-officials-eyeing-payroll-tax-cut-in-effort-to-reverse-weakening-economy/2019/08/19/4cab28ec-c2bd-11e9-b72f-b31dfaa77212_story.html)
