August 29,2020

Wyden Statement on Treasury Guidance on Payroll Tax Deferral

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released the following statement in reaction to Treasury Department guidance on payroll tax deferral:

“Donald Trump’s scam is obvious—juice paychecks before the election and sock workers with a massive tax bill early next year when he’ll be out of office or never have to face voters again. While many businesses are unlikely to go along with Donald Trump’s fake tax cut, billions could be drained from the Social Security trust fund. This scheme is designed to give Donald Trump a talking point—it won’t benefit workers in any way.”