Sen. Brown makes case for extension
Newark Advocate – Sen. Sherrod Brown is campaigning for not just an extension of a payroll tax reduction but a one-year expansion of it.
Brown, D-Ohio, took his case to statewide reporters Wednesday. Under the proposal that could come up for a vote by the end of the week, workers would see their Social Security payroll taxes taken from their paychecks reduced to 3.1 percent.
That figure is 4.2 percent now, and it would rise to 6.2 percent if the tax cut expires.
Businesses also would see the same reduction in their required payroll tax obligation for the first $5 million of their payroll — a move the senator said would help 200,000 Ohio small businesses.
The plan would be paid for by a permanent 3.25 percent surtax on individuals and couples earning more than $1 million per year, he said.
