On Dec. 23, Congress passed a measure that allows for an extension of a two-percentage-point payroll tax cut. When is the tax scheduled to increase again?
A) March 1
B) April 1
Recommended For You
C) May 1
D) June 1
A) March 1
Correct.
According to the Associated Press, the measure will keep in place a "2 percentage point cut in the payroll tax — a salary boost of about $20 a week for an average worker making $50,000 a year — and prevent almost 2 million unemployed people from losing jobless benefits averaging $300 a week.
"A full-year extension of the tax cut had been embraced by virtually every lawmaker in both the House and Senate but had been derailed in a quarrel over demands by House Republicans. Senate leaders of both parties had tried to barter such an agreement among themselves a week ago but failed, instead agreeing upon a 60-day measure to buy time for talks next year."
B) April 1
Incorrect. Try again!
C) May 1
Incorrect. Try again!
D) June 1
Incorrect. Try again!
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
