US President Donald Trump vowed to unilaterally suspend payroll taxes and extend expired coronavirus unemployment benefits after negotiations with congressional Democrats on a broad pandemic aid package collapsed on Friday.
TAX SUSPENSION WILL BE RETROACTIVE TO JULY 1
Trump told a news conference at his golf club in New Jersey that he will sign an executive order implementing these measures, suspending student loan repayments and rental housing evictions in coming days if no deal is reached.
He said the payroll tax suspension — a move he has long called for but shunned by both parties in Congress — would be retroactive to July 1 and extend through the end of 2020, with a possible extension into next year if he is re-elected.
“If Democrats continue to hold this critical relief hostage, I will act under my authority as president to get Americans the relief they need,” Trump said at the briefing, which took on the look of a campaign event.
Earlier on Friday in Washington, Trump’s chief of staff, Mark Meadows, and Treasury Secretary Steven Mnuchin said there was no progress in negotiations at the Capitol with the two top Democrats in Congress, House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer.