As the coronavirus outbreak continues to take a toll on the American economy, Democratic policymakers have taken to their chambers to work on a package that includes paid sick leave for those who self-quarantine and more robust employment insurance for those whose jobs are affected.
President Donald Trump has different ideas, however: He’s announced he will meet with Congress to discuss “a possible payroll tax cut, or relief, substantial relief, very substantial relief. It’s a big number. We’re also going to talk about hourly wage earners’ getting help so they can be in a position where they’re not ever going to miss a paycheck.”
“The American public will be taken care of,” Trump added.
President Donald Trump said he will be meeting with Congress to discuss a substantial ‘payroll tax cut or relief,’ to support the economy as it deals with the #coronavirus outbreak https://t.co/CWZifd2e40 pic.twitter.com/MCAiPf3Kml
— Reuters (@Reuters) March 10, 2020
Treasury Secretary Steven Mnuchin said the proposed payroll tax would be a stop-gap measure.
“The economy will be in very good shape a year from now. This is not like the financial crisis,” Mnuchin said. “This is about providing proper tools of liquidity to go through the next few months.”
Trump has entertained cutting payroll taxes for a while, telling reporters as recently as August 2019 that he’d been “thinking about payroll taxes for a long time.”
It remains to be seen how such a measure would be approved by both chambers of Congress; the president has a long history of pitting Republican and Democratic lawmakers against each other. Senate Minority Leader Chuck Schumer (D-NY) has already come forward with criticism for the president’s proposal.
“It seems President Trump is more focused on the stock market than addressing this pandemic,” he said, adding that Trump can “demonstrate leadership and take action by ensuring “tests and treatment are available and affordable,” and that Americans receive guaranteed paid sick leave, among “other people-focused initiatives.”
One of the best ways to ensure economic security is for Pres. Trump to demonstrate leadership and take action to combat coronavirus itself.
Ensure tests and treatment are available and affordable,
Paid sick leave for all Americans workers,
And other people-focused initiatives.— Chuck Schumer (@SenSchumer) March 9, 2020
The coronavirus outbreak has claimed at least 26 lives in the United States.
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