Growth in Federal Tax Withholding Slipped Some in July, to Slightly Below the Band It Has Fluctuated Within for Most of the Past Year
Posted on August 1, 2024 Growth in federal tax withholding–the combined amount of income and payroll taxes withheld from workers’ paychecks and remitted daily to the U.S. Treasury–slipped some in July. Based on data released daily by the U.S. Treasury Department, we estimate that the amount of withholding in July was 4.8 percent above the […]