PR note: To borrow some recent words by Congressman Darrell Issa and posted on Twitter: House GOP “folded like a cheap suit” on tax deal. The borrowed words from Issa “folded like a cheap suit” were recently directed at PMG Patrick Donahoe after USPS agreed to 5-month moratorium on closing/consolidating post offices Two days ago, […]
Temper Tantrum on Capitol Hill WASHINGTON (AP) — Congress lurched toward Grinch-like gridlock on Tuesday as the Republican-controlled House rejected a two-month extension of Social Security tax cuts that President Barack Obama said was “the only viable way” to prevent a drop in take-home pay for 160 million workers on Jan. 1. “The clock is […]
NEW TAX LAW SOCIAL SECURITY EMPLOYEE TAX RATE DECREASES FOR 2011 Thousands of postal employees will have their Social Security employee tax rate decrease 2 percent in 2011. The tax reduction is a result of the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” signed into law Dec. 17, 2010. The Act […]
The tax cut President Obama was expected to sign Friday will not include a payroll tax deduction for all federal employees. Employees under the Federal Employees Retirement System will see their contributions into Social Security drop from 6.2 percent to 4.2 percent in 2011 as part of a payroll tax holiday. But Civil Service Retirement […]