NFIB Backs Payroll Tax Holiday Proposal

Washington, DC, April 3, 2009--The National Federation of Independent Business, the nation's leading small business association, is backing legislation that would give a 100 percent payroll tax holiday to employers and employees of businesses with 50 or fewer workers for six months.
 

"This is a tax provision that will provide immediate relief to small business owners and their employees," said Susan Eckerly, senior vice president of federal public policy for NFIB.

"Employers will have more money each month to invest in their businesses, and employees will have more cash in their pockets."

"Passing a payroll tax holiday would be the most effective thing Congress could do to help small business owners and their employees survive the current economic climate. According to NFIB's February economic survey, small business sales, earnings and overall optimism are at record lows."