Trump pressures Congress to approve a payroll tax cut for the rest of the year

  • President Donald Trump pressures Congress to include a nine month payroll tax holiday in the coronavirus relief package.
  • The bill that’s being finalized on Capitol Hill does not include a suspension of payroll taxes. 
  • It is unclear how far Trump would be willing to go to get the tax holiday into the bill.

WASHINGTON — President Donald Trump on Friday pressured Congress to include a nine month payroll tax holiday in the coronavirus relief package that is currently being finalized in the House.

But after several days of intense negotiations between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin, the bill that’s coming together does not include a suspension of payroll taxes. 

“I think we’re very close to getting this done,” Mnuchin said on CNBC on Friday morning. 

Unlike Trump, however, Mnuchin did not expressly endorse a payroll tax cut. Instead, told CNBC that Trump is committed to helping individuals, “whether it’s through the payroll tax cut or whether it’s through another means.” 

The uncertainty over the payroll tax cut raises the question of how far the president would be willing to go to force Congress to include the provision in the bill. A White House spokesman on Friday did not immediately respond to questions from CNBC about the president’s intentions. 

Trump, in an Oval Office address Wednesday night, had asked lawmakers to consider implementing payroll tax relief amid the U.S. response to the virus. But even some Republicans have been reluctant to endorse this, in large part because payroll taxes fund programs such as Social Security and Medicare.

This is a developing story, please check back for updates. 

Source: https://www.cnbc.com/2020/03/13/trump-pressures-congress-to-approve-a-payroll-tax-cut-for-the-rest-of-the-year.html

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