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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
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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
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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
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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
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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
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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
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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
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The president spoke to Republicans at their weekly conference lunch at the Capitol as his administration prepares a package of economic measures to combat the fallout from the coronavirus outbreak.March 10
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Key Democrats poured cold water on President Donald Trump’s proposal to include a payroll tax cut as part of his plan to respond to the coronavirus. Senior Republicans also held back from endorsing the suggestion ahead of a key lunch meeting on Tuesday.March 10
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The president will seek a payroll tax cut and “very substantial relief” for industries that have been hit by the virus, reversing course on the need for economic stimulus hours after markets posted their worst losses in more than a decade.March 10
