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    What Trump's Payroll Tax Cut Will Mean for You

    Aug 08, 2020 3 minutes

    After negotiations for another stimulus bill broke down, President Trump issued a series of executive orders to help financially distressed Americans. One of the executive orders (actually an executive "memorandum") suspends the collection of Social Security payroll taxes from September 1 until the end of the year for workers making less than $4,000 for any bi-weekly pay period (that's $2,000 per week, or $104,000 per year).

    There are plenty of lawmakers on both sides of the aisle who don't favor a payroll tax cut (or deferral). It's not enough and doesn't benefit people who need help the most, they say. Many private employers have

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