Hawai‘i would see $800M tax break if payroll tax cut extended

As Congress debates how to pay for extending a federal tax break set to expire Dec. 31, the White House is touting the potential benefits to middle-class families in a new report released Wednesday. The report says the current 2

As Congress debates how to pay for extending a federal tax break set to expire Dec. 31, the White House is touting the potential benefits to middle-class families in a new report released Wednesday.

The report says the current 2 percentage-point reduction in employees’ portion of the Social Security tax “is providing a significant benefit to workers in every state” this year. The payroll tax holiday gives the average family an extra $1,500 annually.

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