This would seem to have investing implications. I‘ve heard elsewhere that the payroll tax is suspended (oops - “deferred“
) only for those earning less than $100,000 per year (last year’s tax return). My pension and SS don’t total that much, but I could easily bump up over that $100K with a substantial distribution from traditional IRA for a major expense. Suspect others are in a similar situation. Also, anyone doing a Roth conversion (or who did one last year) might push their reported income over $100K in the process and miss out on this latest perk. These knee-jerk tax policies set your head spinning.
No idea how “deferring” payroll taxes until January is going to help anyone. Stimulate the economy & stock market until just past the election? ... Than let it rain (or something like that) on the next fella who takes over in January with the payroll tax having to double? Good grief.