McClintock Argues For Payroll Tax Holiday
Washington, DC — Congressman Tom McClintock has authored a new myMotherLode.com blog about the economic uncertainty during the current coronavirus pandemic.
As Congress finalizes the details of a coronavirus stimulus bill, “McClintock writes, “For struggling families, a payroll tax holiday could quickly boost incomes through the end of the year, maximizing the incentive for businesses to reopen and individuals to return to work. This would put far more cash in workers’ pockets than $1000 checks, allowing them to recover the losses they are now suffering.”
McClintock adds, “The $800 billion cost of such a stimulus does not need to be added to the nation’s staggering debt – and future taxes — if individuals are given the choice to forego paying the taxes now in exchange for delaying their retirement date by a few months.”
Referencing the economy, McClintock’s blog is entitled, “Our Choice: A third-quarter rebound or a lost decade.” You can read it by clicking here.