Economy

'Cliff' Deal Would End Payroll Tax Holiday

NPR | Jan. 8, 2013 11:19 a.m.

Contributed By:

John Ydstie

As part of the “fiscal cliff” deal moving through Congress, a two-year-old payroll tax holiday comes to an end. Under the tax holiday, the 6.2 percent payroll tax was cut to 4.2 percent for all American workers. NPR’s John Ydstie talks about what the change will mean for employees and the economy.

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