Trump's payroll tax cut proposal fails to gain traction in Congress after boosting market hopes

[tacobell fan]

• With congress pushing back against President Donald Trump’s emergency proposal to eliminate the payroll tax, the idea may be dead in the water. 
• In response to the deadly coronavirus, Trump on Tuesday pitched Republican lawmakers on a 0% payroll tax rate for employers and employees that would last through the rest of this year, and possibly longer.
• But any such proposal would likely need to go through Congress. And, with Democrats leading the House, it would need their go-ahead. A multitude of lawmakers have signaled it would not pass.

[Tellugodu]

 As an employee we pay 6.2% tax for social security and 1.45% for Medicare and employer matches the same amount. So potential we can save 7.5 -8% on tax if this implemented. Good  if it gets approved.