Politics on the Hudson

In a stop today in Tarrytown, Rep. Nita Lowey, D-Harrison, called for a reduction in the employer payroll tax and an extension of the reduced employee payroll tax in order to encourage job creation and economic growth. She was joined by executives from Westchester County vaccine and pharmaceutical companies.

“Keeping taxes low for millions of working Americans will help to spur economic growth as they use that extra money to purchase goods and services,” said Lowey.  “Reducing the cost of hiring new workers will make it easier for corporations, organizations, and other employers to create the jobs that our state and nation need.”

The vast majority of workers pay a tax of 6.2 percent on wages earned up to $106,800 per year, according to Lowey.  Their employer pays an equivalent amount for a total of 12.4 percent per worker, which is designated for Social Security.

Extending an employee tax benefit and reducing the employer portion of the payroll tax would encourage job creation and promote economic growth, she said.