President Donald Trump on Saturday signed executive orders to supplement unemployment benefits for workers who lose their jobs during the coronavirus pandemic by $400 a week and suspend payroll taxes for those earning less than $100,000 a year.
He also signed orders freezing evictions in federal housing and deferring student loan payments through the end of 2020. Read More
The White House reluctantly dropped its bid to cut Social Security payroll taxes Thursday as Republicans prepared to unveil a $1 trillion COVID-19 rescue package, yielding to opposition to the idea among top Senate allies.
“It won’t be in the base bill,” said Treasury Secretary Steven Mnuchin, speaking on CNBC about the payroll tax cut, killing the idea for now. The cut in the tax that finances Social Security and Medicare has been a major demand of President Donald Trump. Read More