March 9, 2020. U.S. President Donald Trump said Monday that his administration will ask Congress to approve a possible payroll tax cut and provide "very substantial relief" for hourly workers and industries hit by the COVID-19 outbreak. (Xinhua/Liu Jie)...
The only way such changes would occur is if Congress passes a law to forgive the collection of payroll taxes deferred under the order—a move supported by both the President and the signatories of Tuesday’s letter. The political reality, however, means Congress is unlikely to pass such ...
It's been nearly two weeks since President Donald Trump's payroll tax deferral took effect – and large employers so far seem to have little appetite for the holiday. Starting on Sept. 1, employers could defer collection of the 6.2% tax employees pay toward Social Security. This defer...
The White House and Congress are speeding to work on measures to limit the economic damage from the coronavirus outbreak. President Trump wants to suspend the payroll tax while House Speaker Pelosi said she is working with Treasury Secretary Steven Mnuch
TRUMP CONSIDERING TEMPORARY PAYROLL TAX CUT TO STIMULATE ECONOMY “What he was referring to was something immediate or urgent or you know, anti-recession, we just don’t buy that scenario,” he said. Kudlow explained that additional tax cuts will help the economy. CLICK HERE TO READ MORE ON...
made as the Democratic presidential candidates were tossing verbal jabs about his economic policies during a nationally televised debate in Texas – comes after the president has recently wavered on a couple of tax reform proposals, including indexing capital gains and a temporary payroll tax cut. ...
President Donald Trump signed new executive orders on Saturday that included a payroll tax holiday for workers. While that could mean bigger paychecks in the short term, it would also mean significantly less funding for Social Security. If he is able to
"If you want to get money into the hands of people quickly & efficiently, let them have the full money that they earned, APPROVE A PAYROLL TAX CUT until the end of the year, December 31. Then you are doing something that is really meaningful. Only that will make a ...
Trump has not specified whether he wants to exempt tips from just income taxes or from the payroll tax — which funds Medicare and Social Security — as well. Vice President Kamala Harris has echoed Trump’s call for no taxes on tips, making a pledge that would apply to hospitality...
U.S. President Donald Trump floated the idea Tuesday of reducing capital-gains taxes and enacting payroll tax cuts. Economists have been expecting an economic recession in one or two years, but Trump said the country is "far from a recession." ...