President Donald Trump signed executive orders deferring payroll taxes for some Americans and extending unemployment benefits after negotiations on a new coronavirus rescue package collapsed this week in Washington D.C.
Trump announced the payroll tax cut would apply to those earning less than $100,000 a year.
Extra aid for the unemployed will total $400 a week, a cut from the $600 that just expired. Trump said states will be asked to contribute 25% of that new amount. The President also signed executive orders holding off student loan payments and extending the freeze on evictions.
“This is the money they need, this is the money they want, and this gives them a great incentive to go back to work,” Trump said, referring to the $400 in unemployment benefits.
Negotiations between Republicans and Democrats failed this week. Therefore, Trump said he would take action by himself. Trump accused Democrats of loading up their rescue bill with priorities unrelated to the coronavirus.
“My administration continues to work in good faith to reach an agreement with Democrats in Congress that will extend unemployment benefits; provide protections against evictions — the terrible thing happens with evictions. Not fair. It wasn’t their fault that we were infected with this disease from China. And get relief to American families,” Trump said, “Yet, tragically, Nancy Pelosi and Chuck Schumer continue to insist on radical leftwing policies that have nothing to do with the China virus. Nothing to do with it at all. So you have a virus that comes in, and you have people in Congress that don’t want to help our people.”