The 2011 two percent payroll tax cut, extended today for another two months, has meant some 3.1 million Minnesotans have kept $2.2 billion more of their money this year, according to a U.S. Treasury analysis.
That works out to just over $700 on average. Wisconsin has seen a similar benefit, with about 3.2 million people holding on to $2.2 billion.
That's real money, so you can see why economists here and across the country worried that without Congress extending that, there could have been serious consequences for the fragile economic recovery.
Thanks to the extension approved today, those benefits will last at least a couple more months.