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Story summary
- U.S. Senator Roger Marshall (R-KS) proposes eliminating the payroll tax cap and taxing earnings above $184,500 at 12.4%.
- Wall Street Journal editorial board says plan would be among the largest peacetime tax hikes in decades.
- Board argues the hike won’t close the funding gap and could push top rates above 60% in some states.
- Democratic opponent Adam Hamilton would raise the payroll tax cap and discuss changing the retirement age.