Payroll tax cut may be permanent, Trump Says

Payroll tax cut may be permanent, Trump Says
  • Clock-gray 07:34
  • calendar-gray 10 August 2020

President Donald Trump has said that a permanent cut to the payroll tax is possible, adding that it would not affect social security because reimbursements would be made through the general fund, APA reports citing Sputnik.

Earlier, the US president vowed to make permanent cuts to the payroll tax if re-elected in November.

Trump announced he signed four actions to extend COVID-19 relief measures for Americans at a press conference on Saturday evening. He said that his administration had been working round the clock to agree on a package.

The actions provide a payroll tax holiday to Americans earning less than $100,000 per year, grant $400 per week in expanded benefits to those unemployed, protect people from eviction and extend relief to student loan borrowers.

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