Optimum News 12 Newsday MSG Varsity Explore LI AM New York Newsday Cars Newsday Homes
Print Aa

Hudson Valley workers' paychecks shrink with federal tax hike

Originally published: January 3, 2013 2:39 PM
Updated: January 3, 2013 6:30 PM
By KEN SCHACHTER AND ELIZABETH DAZA  kenneth.schachter@cablevision.com

Have you checked your pay stub? Chances are it's lighter now that new 2013 federal tax increases have kicked in.

For many, the most noticeable hit will come from the 2 percentage point increase in payroll taxes, which will revert to its former rate of 6.2 percent. The Obama administration cut payroll taxes during the Great Recession in an effort to stimulate the economy, but the fiscal cliff...

Content Preview This content is exclusive for Newsday digital access and 7-day home delivery subscribers and Optimum Online customers.

Already
registered?
Log in
Already a
subscriber/customer?
Register
Get a 4-week trial for $1
Subscribe