President Trump once again tweeted his support for a payroll tax cut on Saturday — even though there’s a distinct lack of support for that idea including among Senate Republicans. But is it legal? we take a look 👇
The multiemployer pension crisis is threatening the retirement savings of millions of essential blue-collar workers and seniors. Many have already faced severe cuts to their pension benefits despite their plans following federal guidelines.
But there might be an even further catch: Treasury doesn’t look like it has any way to mandate that the companies withholding the payroll taxes actually forward any savings on to their workers, according to Daniel Hemel, a University of Chicago law professor. What Kerpen and Moore are proposing, Hemel wrote in an email, “only gets extra money into *employers’* hands temporarily. It doesn’t get extra money into *employees’* hands.
In other words, this might not be quite the stimulus the authors imagine. Or to put it somewhat differently: “Cautious employers will continue to withhold payroll taxes from their employees’ paychecks because if the subsequent tax forgiveness bill does not go through, employers face potential liability for the full amount of payroll taxes ,” Andy Grewal, a University of Iowa law professor, wrote in an email. “What the authors want requires legislative attention.
Still, it also seems quite possible that the pandemic could be the spark that brings more attention to an issue that has lived under the radar for years. There are reasons to think that the next Covid-19 relief package would include a bill that would limit states’ ability to tax workers who became temporary residents because of the virus — for starters, it’s a generally bipartisan idea and has a pretty powerful patron in Senate Majority WhipThere are also reasons that bill could land on the cutting room floor — for one, Senate Minority Leader
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