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The Boston Globe


Expiring payroll tax cut to hit everyone’s paycheck

Workers at every income level will see a small cut in their paychecks as a result of the tax package passed by Congress — about $822 a year for taxpayers earning between $50,000 and $75,000 a year.

The change, affecting the largest number of taxpayers, follows the expiration of a temporary 2 percent reduction in the Social Security payroll tax. President Obama had requested that the lower 4.2 percent rate be extended, but lawmakers declined.

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