Trump’s ‘tax holiday’ has few takers in Connecticut

From CT Mirror.

It’s been two weeks since President Donald Trump offered employers a way to temporarily fatten their worker’s paychecks, but in Connecticut there have been few takers.

Using his executive authority, Trump has allowed the nation’s employers to defer the payment of certain payroll taxes from Sept. 1 through the end of the year.

But few employers in Connecticut have taken advantage of Trump’s “tax holiday,” an idea that Congress has also rejected, both in negotiations of previous stimulus bills and in on again, off again, unproductive talks over new legislation to respond to the pandemic.

Mark Soycher, human resources counsel for the Connecticut Business & Industry Association, said he has received dozens of phone calls from Connecticut employers who had questions about the program.

“I’ve not heard from any employer that they are participating in it,” Soycher said. “Once employers look at it, the see it as a short-term loan.”

See the complete article from CT Mirror online.