Payroll tax cuts

Additional stimulus checks? President Trump says no as he wants payroll tax cuts

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Washington, D.C. – While Democrats have pushed for additional funding measures for coronavirus relief, President Trump is thinking otherwise. He had previously suggested he would be open to additional funding, but said otherwise on Tuesday.

Bloomberg News reporter Jennifer Jacobs shared the information via Twitter. President Trump was responding to a question at a small business event when he made the statements.

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This is not the first time President Trump has signaled interest in payroll tax cuts. Trump floated the idea in early March amid the discussions of the first round of coronavirus relief. While there was some support from Republicans, he was unable to get support from Democrats.

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Everyone on Capitol Hill seems to agree that some form of additional steps will need to be taken. While Congress has battled for the potential measures to provide support, many Americans simply want to go back to work.

Across the country, small businesses remain closed. These businesses comprise most of Americans who are out of work. Many of these small businesses were helped through the Payroll Protection Program. The program received additional funding from Congress, but is expected to be out of money again soon.

I would not expect any support from Democrats for the payroll tax relief without some form of concession from Republicans in regards to guaranteed income. Other sticking points may be relief for state and local governments.

All measures that the government takes on as potential relief will continue to pile on the national debt. Sen. Majority Leader Mitch McConnell (R, Ky) has indicated that he is hesitant for some measures due to the debt.

This is a continuing story as both Democrats and Republicans start public sparring over the next measures that are expected. Stay tuned to The Liberty Loft for the latest developments.

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