October 6, 2015

Phoenix voters OK tax to fund light-rail

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Phoenix-area voters on Tuesday approved a comprehensive transportation plan that would significantly increase public spending on light-rail and other transit projects, city officials announced yesterday. According to unofficial results, nearly 55 percent of voters approved the measure known as Transportation 2050.  Listed on the ballot as Proposition 104, the plan calls for a 0.7 percent [...]

Treasurers’ payroll tax update

Railroad Retirement, Social Security, Medicare and Railroad Unemployment Insurance payroll taxes have changed for 2011. Following are the tax rates:  Railroad Retirement Tier I: Paid by employer: 6.20% on wages up to $106,800. Paid by employee: 4.2% on wages up to $106,800. Social Security (non-railroad employment): Paid by employer: 6.2% on wages up to $106,800. Paid [...]

Payroll tax cut will NOT weaken trust funds

The 2 percentage point reduction in payroll taxes for railroad workers covered by Railroad Retirement, and bus and aviation workers covered by Social Security, will NOT have a negative impact on either the Railroad Retirement or Social Security trust funds, as has been wrongly alleged by some. Beginning Jan. 1, all workers will see an [...]

Rail Retirement payroll tax set for 2011

Railroad Retirement payroll taxes will remain at 2010 levels in 2011, reports the Railroad Retirement Board. For Tier I, carriers and employees each will pay 6.20 percent on a maximum of $106,800 of wages. For Medicare, carriers and employees each will pay 1.45 percent on all wages. For Tier II, carriers will pay 12.10 percent [...]