Portman Calls For A 12 Month Income Tax Moratorium

Friday, December 4, 2009 RSS  Short URL  Share

U.S. Senate hopeful Rob Portman says the economy needs an additional stimulus, besides what the federal government is already providing. So he's advocating a temporary reprieve of some of the taxes that are taken from workers' paychecks.

The Cincinnati Republican spoke in Cleveland Friday afternoon. Among his proposals was one that he maintains would jump-start both hiring, and spending.

Portman said “to spur immediate investment by employers and encourage consumption by employees; I support a one year payroll tax holiday. Beginning immediately.... for workers and employers on the first $50,000 of income.”

Workers would still pay state income and Medicare taxes.

The former congressman and one time Director of the Office of Management and Budget is running against Democrats Jennifer Brunner and Lee Fisher, for the seat being vacated by the retiring Senator George Voinovich.