Growth in Federal Tax Withholding Slowed in February and Was Back Within the Range of Most of the Past Two Years
Posted on March 4, 2025 We estimate that growth in federal tax withholding–the combined amount of income and payroll taxes withheld from employees’ paychecks and remitted by firms as quickly as the next day to the U.S. Treasury Department–slowed in February. Based on data released daily by the U.S. Treasury, we estimate that economywide withholding […]