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White House Says Stimulus Bill ‘Must’ Include Payroll Tax Cut

Published 07/16/2020, 04:33 PM
Updated 07/16/2020, 04:54 PM
© Bloomberg. Donald Trump Photographer: Yuri Gripas/Abaca/Bloomberg

(Bloomberg) -- The White House is signaling to Congress that President Donald Trump could reject a new coronavirus aid bill if it doesn’t include a payroll tax cut.

“President Trump wants to provide relief to hardworking Americans who have been impacted by this virus and one way of doing that is with a payroll tax holiday,” White House Spokesman Judd Deere (NYSE:DE) said Thursday in a statement. “He’s called on Congress to pass this before and he believes it must be part of any phase four package.”

©2020 Bloomberg L.P.

Latest comments

Payroll tax cut won't help the 51 million people out of work guess they get s,c,r,e,w,e,d again by Trump.
some day...it will be like a miracle... Trump will just vanish.
a payroll tax cut sounds nice but would be a total disaster for social security. it'd add some capital for a couple of months and would give the market a short term jolt but after the election, the social security system would be in shambles.
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