The President’s plan will cut the payroll tax in half to 3.1% for employers on the first $5 million in wages, providing broad tax relief to all businesses but targeting it to the 98 percent of firms with wages below this level. In Missouri, 120,000 firms will receive a payroll tax cut under the American Jobs Act.
This is great news for Missouri businesses. It means all across Missouri, small businesses will have more money for reinvestment in growth, which creates new jobs.
The American Jobs Act is good for Missouri, which is why we’re encouraging Congress to pass it right away. Learn more: http://bit.ly/qtlOGQ