You can now read 10 articles each month for free on BostonGlobe.com.

The Boston Globe

Business

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.

Loading comments...

You have reached the limit of 10 free articles a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than $1 a week