economy Markets

Trump Pulls The Trigger, Signs Orders On Jobless Benefits, Payroll Taxes

Donald Trump moved ahead Saturday with executive action aimed at preserving a handful of key fiscal support mechanisms after negotiations on a new virus relief package collapsed, leaving tens of millions of Americans in economic limbo. Although discussions between Nancy Pelosi, Chuck Schumer, and Steve Mnuchin will presumably continue, Trump moved unilaterally just hours after a Friday evening address during which he blamed Democrats for the stalemate. Just as the president suggested, the orders include a payroll tax break, the extension of federal unemployment assistance (at a reduced rate of $400/week), an eviction moratorium, and student loan relief. "Nancy Pelosi and Chuck Schumer have decided to hold this assistance hostage", he said, speaking from his golf club in Bedminster. "Hopefully we can do something with them at a later date". Almost immediately, Trump turned the press conference into a campaign speech. "[Joe] Biden is totally controlled now by the Bernie Sanders left-wing of the party", he remarked, veering off-script. The president then ran through a laundry list of grievances, accusing Democrats of trying to "steal the election" with "fraud". Trump also decri
Subscribe or log in to read the rest of this content.

6 comments on “Trump Pulls The Trigger, Signs Orders On Jobless Benefits, Payroll Taxes

  1. Prestwick AK says:

    Palpatine takes yet another step closer to becoming Emperor.

  2. Anonymous says:

    How will it go over with traders? Like anyone cares about anything other than price mo and VaR. they may care it takes us a step closer to Turkey but if they don’t act and the computers don’t care it doesn’t matter. Few will stake their careers on rational analysis. Those days are in the past (until the machines sell then everyone will “care”).

  3. MMcCann says:

    Everything that Trump does is Trump trying to gain an advantage in a negotiation, and he never stops negotiating

  4. Payroll tax holiday…so the people that are still secure in their jobs get a lump sum bill for the taxes in December instead of having it taken out of every check. How does that help anyone? As someone living in Florida I also find it hard to get excited about Trump pilfering $44 Billion from the FEMA Emergency disaster fund to pay for unemployment benefits, especially heading into what is expected to be, and already shaping up as, one of the busiest hurricane seasons on record.

Speak your mind

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Skip to toolbar