Big Businesses Get This Social Security Tax Break -- But You Don't

The economic impact of the coronavirus pandemic has already been huge, and has the potential to get even larger in the months and years to come. Lawmakers in Washington have scurried to find ways to try to cushion the blow for the American public, with legislation that will send one-time $1,200 stimulus checks to most adults.

Yet Congress drew the line at providing ongoing tax breaks to individual workers, choosing to forego a proposed payroll tax holiday. Instead, the federal government gave that tax break to businesses of all sizes. The resulting new law has given employers some financial flexibility for the rest of 2020 and beyond -- but at least for now, it won't give the same benefits to those companies' employees.

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