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Any boost for workers from a payroll tax cut that President Donald Trump favors would take weeks to kick in and the effects could be distributed unevenly.
July 23 -
Republicans crafting their own plan for a new U.S. virus-relief bill broadly endorsed a fresh round of stimulus checks to individuals, extended supplemental jobless benefits and more money for testing while voicing doubts over President Donald Trump’s desired payroll tax cut.
July 22 -
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, adding a new complication to already contentious negotiations between Republicans and Democrats on the next round of stimulus.
July 17 -
President Donald Trump said he’ll ask Congress to pass more economic stimulus, including a payroll tax cut, even after the government reported a surprise improvement in U.S. unemployment on Friday.
June 8 -
Pandemic-induced market volatility and warnings from Wall Street that tax rates are bound to rise have more Americans preparing to move money from traditional individual retirement accounts into Roth IRAs.
May 26 -
House Speaker Nancy Pelosi dismissed President Donald Trump’s call for a payroll tax cut and changes in the capital gains tax, saying it wouldn’t help millions of unemployed workers and others struggling in an economy shut down by the pandemic.
May 7 -
President Donald Trump has fixed his sights on getting a payroll tax cut in the next coronavirus stimulus bill, but it’s unclear whether he can get Republicans — much less Democrats — to go along with such a high-cost item that likely would have only a modest impact on the economy.
May 4 -
A big cut in the payroll tax is high on President Donald Trump’s wish list for the next coronavirus response bill, but the idea is getting the brushoff from newly cost-conscious Republicans and Democrats who would rather send aid to people who aren’t getting a paycheck.
May 1 -
The U.S. Chamber of Commerce called Monday for a three-month cancellation of all payroll taxes paid by employers to address “a sudden and sharp drop in demand” facing businesses due to the coronavirus pandemic.
March 16 -
The president said he would allow individuals and businesses to “defer tax payments without interest or penalties” and he urged Congress to cut payroll taxes.
March 12