Record #:

30095

Author(s):

Doughton, R.L.

Abstract:

There is a bill now under consideration in Congress that will freeze the tax on employer and employee for old-age and survivors benefits at the present rate of 1 percent for 1945. The main reasoning behind the freeze of the Social Security Tax is worry that there is inadequate reserve in the trust funds for the present. If the bill does not pass, there will be an increase to 2 percent.

Source:

We the People of North Carolina (NoCar F 251 W4), Vol. 2 Issue 9, January 1945, p12-13, 29

Subject(s):

Social security; Taxation--Laws and legislation