Republican Senators have already spoken out against the idea, but Trump is pushing cutting payroll taxes to 0% to fight coronavirus.
President Donald Trump, in a meeting with Republican lawmakers on Capitol Hill Tuesday, pitched a 0% payroll tax rate that would last through the rest of this year, a White House official told CNBC.
Republican senators have reportedly been skeptical of a payroll tax cut, which has been pushed by Peter Navarro, one of Trump’s leading advisors on trade policy.
GOP Senators are more than skeptical, they are already opposing the idea:
John Cornyn, a member of Senate GOP leadership, has little appetite at this point for tax cuts aimed at spurring economy. “I usually love tax cuts but I think it’s a little bit premature.”
— Manu Raju (@mkraju) March 9, 2020
The White House is putting out proposals that will go nowhere to create false hope in the stock market. It is telling that Trump has said nothing about expanding paid sick leave, or incentivizing telecommuting arrangements for employers.
Trump wants to bail out the oil and gas industry, and cut payroll taxes, which would do nothing to prevent the spread of coronavirus or help people who get sick.
The payroll tax cut isn’t a real solution. It is another ploy by Trump to boost his sagging reelection campaign.
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Mr. Easley is the founder/managing editor and Senior White House and Congressional correspondent for PoliticusUSA.Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association