A bill to amend the Internal Revenue Code of 1986 to temporarily reduce payroll taxes of employees and employers by one-half, and for other purposes.

Summary

Amends the Internal Revenue Code to reduce in 2010: (1) the employment tax rate from 6.2 to 3.1% for employers and employees; and (2) the tax rate on self-employment income from 12.4 to 6.2%. Appropriates to the Federal Old-Age and Survivors Trust Fund and the Federal Disability Trust Fund sufficient amounts to cover any revenue lost to such Trust Funds from the enactment of this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 January 2010

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 26 January 2010

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 26 January 2010 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 January 2010

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 January 2010

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 26 January 2010

  Open at official source

Sponsors

• Sen. LeMieux, George S. [R-FL] · R · Sponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.