Payroll Tax Cuts as Economic Stimulus: Past Experience and Economic Considerations [August 23, 2019]   [open pdf - 519KB]

From the Document: "A range of fiscal and monetary policy tools have been used in the past to respond to weak economic conditions and recessions. One of those policy tools, enacted as economic stimulus in December 2010, was a temporary employee payroll tax cut. On August 20, 2019, President Trump expressed interest in proposing a payroll tax cut, although subsequent reports indicate this may not be a policy the Administration intends to actively pursue at this time."