Pete Hoekstra: “Currently a W-2 form does not require the employer's share to be reported, so the W-2 form only lists the employee's…”

“Currently a W-2 form does not require the employer's share to be reported, so the W-2 form only lists the employee's share. What this legislation will require is that on the W-2 form, both the employer and the employee's share of the FICA tax will be listed. This will allow employees to fully understand the true cost of their employment. This is a process that a number of people have already taken steps toward; that this is good government. Hundreds of companies are doing this. The State of Michigan has added this in. Mr. Speaker, I thank my colleague from the other side of the aisle for encouraging a 'yes' vote in support of this.”