Payroll tax holiday: The most important part of the fiscal cliff must be saved

Save the Payroll Tax Holiday

It’s the most important part of the “fiscal cliff”—and nobody’s talking about it.

By Matthew Yglesias

 

 

 

 

 

The most important element of the “fiscal cliff” is the one politicians seem least interested in doing anything about: the expiration of a payroll tax holiday that’s given a nice lift to the economy at no cost to anyone. A sensible Congress would be coming together on extending and even expanding the payroll tax holiday, even while continuing to argue about the other unrelated elements of the cliff. Instead, the ongoing controversy over high-end Bush tax cuts is crowding the agenda and may end up blocking what should be a no-brainer policy initiative. . Read More