Trump Administration nixes payroll tax cuts

U.S. & World

WASHINGTON, D.C. (CNN) — The Trump Administration will not be making cuts to payroll taxes.

The White House on Monday threw cold water on the possibility of a temporary payroll cut after a report in The Washington Post said the cut was under consideration.

While running for re-election in 2012, former President Barak Obama signed a bill extending payroll tax cuts for workers.

It was part of the administration’s economic recovery plan following the financial crisis.

The move is designed to boost American spending but could also expand the nation’s deficit.

The White House said while cutting payroll taxes isn’t happening, other tax cuts are on the table.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Interactive Radar

STORY TOOLS

Trending on NBC4i.com

Today's Central OH Forecast

More Forecast

Don't Miss

Alexa

Storm Team 4 on Alexa

W3Schools