After negotiations for another Stimulus bill stalled for two weeks, President Trump issued an executive order suspending the collection of Social Security payroll taxes from September 1st to December 31st, while hinting that it might go beyond that timeframe too.
It would impact those making less than $4,000 for any bi-weekly pay period, or about $104,000 annually.
While the left and many on the right were not fans of the payroll tax cut for lots of reasons, there is one very real pitfall that might come into play later. Listen for more.
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3 Questions to Ask if You Are Considering Altering Your Retirement Because of COVID-19 – Daily Flash Briefing