Politics
Social Security Tax Hike Proposal
Sen. Bernie Moreno (R-Ohio) and Sen. Elizabeth Warren (D-Mass.) have proposed eliminating the Social Security payroll tax cap, which would impose a 12.4% tax on all wages and self-employment income. The proposal aims to increase revenue for the Social Security system.
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The Hill
Sen. Bernie Moreno (R-Ohio) has joined Sen. Elizabeth Warren (D-Mass.) in proposing to eliminate the Social Security payroll tax cap. This would impose the 12.4 percent tax on all wages and self-employment income, on top of the graduated income tax. Today, the Social Security payroll tax applies onl
2026-08-06 11:30 UTC