Payroll Tax Reform Act

The Payroll Tax Reform Act of 2019 was a major tax reform bill signed by Gabriel Vigil in C1, on April 14th. Many people, on the left and the right commemorated this move and applauded the president.

Background
After tax reform stalled in Congress, the Vigil administration was looking for something. Senator Überfeld suggest replacing the payroll tax with a Land Value Tax. Governor Terry quickly wrote the legislation, and it easily passed both the house and senate with not a single nay.

Effects on Economy
Most economists say this will be a net positive to the economy.

Tax Reform
The Payroll Tax Reform Act of 2019 does a few major things -
 * Repeals the Payroll Tax
 * Replaces it with a Land Value Tax, deducting all farms and small businesses, at a 6% rate, generated 2.1 trillion
 * Protects Social Security, half of surpluses not spent on Social Security and Medicare must go to the Social Security Trust Fund