Tax Withholding Growth Ticked up in August, but Was Near the Bottom of its Range Over Most of the Past Year
Posted on September 3, 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 Department–ticked up in August. Based on data released daily by the U.S. Treasury, we estimate that the amount of withholding in August was 5.2 percent above the […]