Local treasurers should note that employees will continue to receive the benefit of reduced payroll taxes and access to extended unemployment benefits under legislation signed by President Barack Obama on Feb. 22.
That law, the Middle Class Tax Relief and Job Creation Act of 2012, maintains a reduction in the social security payroll tax on employees, and the corresponding tier I payroll tax rate on railroad employees, of two percentage points.
It also provides that out-of-work members can obtain extended unemployment benefits through the end of calendar year 2012.
To view the U.S. tax amounts and percentages for 2012, click here.
Related News
- FRA Permits Self-Driving Freight Test Despite Warnings from SMART-TD
- The East Palestine Disaster Turns Two: SMART-TD Demands Action
- Riders resist driverless technologies in Chicagoland
- Union Pacific’s leasing scheme to cost jobs in Eugene, Oregon
- Ready For a Change, Connecticut Southern Railroad Joins SMART-TD
- In Memoriam: Dan Bonawitz, A Tireless Advocate for Workers’ Rights and Union Brotherhood
- Dining car stewards vote for a better future
- Railroad discipline increases – DIPP can see you through
- Longtime ally of union workers elected minority leader of Railroads, Pipelines, and Hazardous Material Subcommittee
- FRA Administrator Amit Bose Honored as He Steps Down