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Estimate of Payroll Tax Needed to Finance Benefits Under Proposed 'Family and Medical Insurance Leave Act' (PDF)
Office of the Chief Actuary, U.S. Social Security Administration [SSA] Link to more items from this source
Jan. 28, 2020

"[HR 1185] would establish a new trust fund for financing benefits specified. For workers who are eligible, specified benefits based on 'qualified caregiving' would start in March 2022.... The Bill specifies a total payroll tax rate of 0.40 percent on OASDI taxable earnings, starting in January 2021. However, we estimate that a 0.62 percent payroll tax rate would be necessary to adequately finance benefits included under this Bill, under the intermediate assumptions of the 2019 Trustees Report."

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