With the ‘swamp’ fighting over pork as unemployed Americans die on the vine, President Trump on Saturday announced sweeping executive actions aimed at coronavirus relief – after stimulus Congressional stimulus talks broke down once again last week.
The new orders will:
- Eliminate the payroll tax
- Extend unemployment benefits by $400 per week, down from $600
- Defer student loan repayments through the end of the year
- Extend protections against evictions
The administration is also looking at cuts to income taxes for lower and middle-income individuals, as well as cuts capital gains taxes.
Update (1640ET): As anticipated, President Trump has announced that he will be signing executive orders to eliminate the payroll tax, extend a block on evictions, and continue to provide supplemental unemployment benefits.
President Trump will be making a major announcement on Saturday which many believe to be linked to rumors of an executive order covering pandemic stimulus funds and other measures.
Major News Conference in Ten Minutes!
— Donald J. Trump (@realDonaldTrump) August 8, 2020
On Friday evening, Trump said that if a bipartisan agreement isn’t reached on stimulus legislation, he’s prepared to sign executive orders.