President Trump during his briefing Thursday at the White House said he told Republicans to withdraw the payroll tax cut for the upcoming coronavirus relief bill since Democrats were not going to sign it.
“I would like to see a payroll tax cut,” Trump said when John Roberts of Fox News informed him that Senate Majority Leader Mitch McConnell had made an announcement about the new aid package, and did not include the cut.
“Based on what I said to the Republicans, I said that I think a payroll tax would be good, but that we are not going to get it from the Democrats. So you still need Democratic votes. I would like to see it, but if we are not going to get your votes, I think we have to move on to the next, “he said.
McConnell, R-Ky., Said Thursday afternoon that “a framework that will allow Congress to pass laws and provide more relief to the American people that is tailored precisely to this phase of the crisis.” McConnell added that the administration had requested more time to review the details of the package, but hoped to present it early next week.
TRUMP’S PAYROLL TAX CUTTING PLAN PROVIDES A HARD SALE
McConnell said the legislation would include a new round of direct payments of $ 1,200, a sequel to the Paycheck Protection Program (PPP) and more than $ 100 billion to assist schools in their reopening process, but without reduction. payroll tax, the tax that funds the state’s Social Security and Health Insurance. Cutting it was unpopular with both Democrats and Republicans.
Trump argues that cutting payroll taxes would cut hiring costs and put money in workers’ pockets. Some argue that doing so would unnecessarily exacerbate the growing budget deficit. They say that the pandemic, not hiring costs, is what prevents companies from hiring new employees.
“I don’t think it’s something that changes anyone’s behavior,” said Senator John Thune, RS.D.
“The president is very focused on getting money quickly to workers right now, and the payroll tax takes time,” Treasury Secretary Steve Mnuchin previously said.
TRUMP DOWN IN TAX COURT
However, Mnuchin hinted that there could be a fifth round of legislation that includes the cut. “You know, there may be a CARES 5.0,” said Mnuchin. “The president is very focused on getting money quickly to workers right now. And payroll tax takes time. So we will come back and see that.
For weeks, the president made a payroll tax cut to be his top priority in the new coronavirus legislation, in a Fox News interview on Sunday saying he would consider vetoing legislation that does not include it.
On Thursday, he directly blamed Democrats for opposing the tax cut.
“Democrats have firmly declared they will not approve a payroll tax cut (shame!) It would be great for workers,” Trump tweeted Thursday. “The Republicans, therefore, did not want to ask for it.”
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He added: “Democrats, as always, are hurting the working men and women of our country!”
