[20200311]IN11234_减税作为财政刺激：比较工资税减免与一次性退税.pdf

CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i Tax Cuts as Fiscal Stimulus: Comparing a Payroll Tax Cut to a One-Time Tax Rebate Molly F. Sherlock Specialist in Public Finance Donald J. Marples Specialist in Public Finance March 11, 2020 The Trump Administration and certain Members of Congress have expressed interest in a temporary payroll tax reduction as a fiscal stimulus response to economic concerns resulting from the coronavirus disease 2019 (COVID-19). Other lawmakers have emphasized that, with respect to tax-relief proposals, “everythings on the table.” This sentiment reflects potential uncertainty in both the current economic outlook and what tax policy options might be most effective as the coronavirus outbreak evolves. An alternative to a temporary payroll tax reduction that might be considered, and has been used in the past, is a lump-sum tax rebate. Temporary payroll tax cuts and lump-sum tax rebates have been used in response to past periods of economic weakness. In 2011 and 2012, employee payroll taxes were reduced by two percentage points, providing tax relief to any individual with earned income. General fund revenue was transferred to