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Trump’s payroll tax deferral causes concerns for Upstate businesses

Last updated September 10, 2020

By Tina Underwood

Furman University’s Brent Nelsen, a politics and international affairs professor, spoke to WYFF News 4 reporter Taggart Houck about the payroll tax deferral program President Donald Trump imposed through executive action. The tax holiday allows those who make less than $4,000 biweekly a chance to defer till Dec. 31, 2020 the 6.2% tax that is normally taken out of their paychecks for Social Security. Those employees would still be required to pay that money back in 2021, but the Trump administration is pushing for forgiveness of that debt, which has to be approved by Congress. Nelsen doesn’t see that happening, saying, “We’re within two months of the election. Neither side, the Democrats or Republicans want to give the other side a victory.”

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