The Council of Ministers wants to reduce social security contributions by 2% between the start of October and the end of next June.
It will be part of the £150 million fiscal stimulus package announced earlier this month to boost the economy.
Ministers say it will increase the take-home pay for 55 thousand workers and self-employed islanders.
If approved, there'll be a 4% employee contribution rate instead of six on earnings up to £4,500 a month.
For the self-employed, the rate will be 10.5% instead of 12.5% on earnings up to the same amount.
It will reduce income into the Social Security fund by around £26 million this year and next.
Jersey athlete, Lily McGarry, appeals for donations for prosthetic limbs
Levante Jet makes maiden voyage to Jersey
The split between working and non-working Jersey homeless is nearly 50/50
ArtHouse Jersey launches Liberation 80 exhibition
Carers offered free training sessions for dementia
Philip's Footprints introduces new 'Seymour Stroll'
Firefighters save two islanders from serious St Peter car crash
New Channel Islands catamaran tests well in choppy seas
