A Federal Tax Holiday? December 1, 2008 Joseph Bishop-Henchman Joseph Bishop-Henchman RedState has the scoop about the proposal: Gohmert’s tax holiday plan is elegant in its simplicity: every American taxpayer would pay no federal income or FICA taxes for the first two months of 2009. For the typical American family — earning about $50,000 a year — that would mean they would keep about $2000 that would otherwise be paid to the government. Gohmert would like to hold the holiday in January or February of next year. It would cost approximately $332 billion, still cheaper than using the rest of the bailout money for a bailout. Stay informed on the tax policies impacting you. Subscribe to get insights from our trusted experts delivered straight to your inbox. Subscribe Share Tweet Share Email Topics Individual Income and Payroll Taxes Tags Tax Reform