Richard Rubin

speaker

1,496 appearances 29 recordings 1 series first heard Oct 2017 last heard Jan 2024

Richard Rubin’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Coronavirus Relief: Why a Payroll Tax Cut Is Unpopular in Congress · 22 Jul 2020 podcast

That, you know, maybe there's some way to do something similar to that on the employee side, but that could get pretty messy. voice-verified

So that's a tax credit that's actually larger than a payroll tax cut. voice-verified

It's up to 50% of wages and benefits instead of as much as 15.3%. voice-verified

So for each qualifying employee, it's a lot bigger and it's a larger subsidy. voice-verified

But it's only available if you forbid employers that have been having closures or that have been having significant declines in revenue. voice-verified

And there's talk about expanding the version of that that Congress passed in March and making it more generous. voice-verified

And the House Democratic bill does that. voice-verified

And we'll just have to see where the Senate lands. voice-verified

But it's one of those ideas that is somewhat bipartisan because it's more targeted than this payroll tax cut idea. voice-verified

In 2009 and 2010, there was a tax credit for workers. voice-verified

That for 2011 was converted into a two percentage point payroll tax cut. voice-verified

And then that was extended for 2012 after a big political fight about that. voice-verified

And then in the midst of a bunch of other tax changes at the end of 2012, it wasn't extended into 2013 as we were kind of coming through the recovery at that point. voice-verified

There's no urgency for them to necessarily do anything at any particular point. voice-verified

I mean, the unemployment expanded insurance expires at the end of July, but they can do that retroactively. voice-verified

I mean, there certainly is pressure for them to do it, and Congress usually likes to get out of town in August. voice-verified

But that doesn't, and particularly in an election year when they want to be home and campaigning. voice-verified

But we'll just have to see. voice-verified

They seem like they're not necessarily anywhere right at this moment of having a full package together. voice-verified

WSJ Your Money Briefing · Is Your Tax Refund Late? IRS Will Pay You Interest. · 26 Jun 2020 podcast

People who filed in February and got a refund in May will get interest for that month between April and May. matched

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