Growth in Federal Tax Withholding in September and October Was at the Lowest 2-Month Average Since the First Part of 2023
Posted on November 6, 2025 We have now observed two consecutive months with significantly reduced growth in federal tax withholding. Such withholding–the combined amount of income and payroll taxes withheld from workers’ paychecks and remitted by employers as quickly as the next day to the U.S. Treasury–grew by an estimated 3.8 percent in October following […]