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Payroll Tax Suspension for 2021-2022

This bill proposes to suspend the collection of payroll taxes for the years 2021 and 2022. This means that employees and employers would not have to pay these taxes during this period, potentially increasing citizens' net income. Funds normally derived from these taxes would be transferred to social security trust funds from general government funds to avoid impacting benefits.
Key points
No collection of payroll taxes for employees and employers in 2021 and 2022.
Potentially higher net wages for employees due to no deductions for these taxes.
Social security trust funds (retirement, disability, health) would be funded from the general treasury to ensure benefit continuity.
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Additional Information
Print number: 117_HR_6924
Sponsor: Rep. Gosar, Paul A. [R-AZ-4]
Process start date: 2022-03-03