President Donald Trump, in a meeting with Republican lawmakers Tuesday on Capitol Hill, pitched a 0% payroll tax rate for employers and employees that would last through the rest of this year, a White House official told CNBC.
There was also discussion of making the payroll tax rollback permanent, said the official, who declined to be named. Payroll taxes are used to fund Medicare and Social Security. When asked about the potential cost of a payroll tax cut, the official pushed back and asked why there is always a focus on the cost of tax cuts.
