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The Water Cooler
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Trump takes action on his own.
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<blockquote data-quote="SlugSlinger" data-source="post: 3402795" data-attributes="member: 7248"><p>Just like he said he would.</p><p></p><p></p><p><span style="font-size: 22px"><strong>Trump seeks to suspend payroll taxes and extend unemployment benefits</strong></span></p><p>Aug. 08, 2020 5:00 PM ET<a href="https://seekingalpha.com/symbol/TLT" target="_blank">iShares 20+ Year Treasury Bond ETF (TLT)</a>By: Brad Olesen, SA News Editor<a href="https://seekingalpha.com/shell#comments" target="_blank">206 Comments</a></p><ul> <li data-xf-list-type="ul">Via executive order, President Trump approved initiatives Saturday that will extend the expired unemployment benefits and suspend the payroll taxes usually withheld from worker paychecks.</li> <li data-xf-list-type="ul">The reports come after Congress failed to reach an agreement last week (and remain about $2 trillion apart) after the Democrats and Republicans failed in their discussions following the expiration of the added benefits at July end.</li> <li data-xf-list-type="ul">The order on unemployment benefits drops the $600 added federal weekly benefit to $400, <a href="https://www.latimes.com/politics/story/2020-08-08/trump-executive-orders-bypassing-congress-coronavirus-relief" target="_blank">the LA Times reported. </a></li> <li data-xf-list-type="ul">Questions remain about whether Trump as the authority to do so given Congress's power of the purse. The reports indicate Democrats intend to sue to block the unilateral action. A compromise between the the Republican Senate and Democratic House failed last week.</li> <li data-xf-list-type="ul">The payroll tax suspension is supposed to affect some employees. As it stands, the 12.4% rate assessed on employee salaries is <a href="https://www.taxpolicycenter.org/briefing-book/what-are-major-federal-payroll-taxes-and-how-much-money-do-they-raise" target="_blank">split between the employee and employer. </a></li> </ul></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3402795, member: 7248"] Just like he said he would. [SIZE=6][B]Trump seeks to suspend payroll taxes and extend unemployment benefits[/B][/SIZE] Aug. 08, 2020 5:00 PM ET[URL='https://seekingalpha.com/symbol/TLT']iShares 20+ Year Treasury Bond ETF (TLT)[/URL]By: Brad Olesen, SA News Editor[URL='https://seekingalpha.com/shell#comments']206 Comments[/URL] [LIST] [*]Via executive order, President Trump approved initiatives Saturday that will extend the expired unemployment benefits and suspend the payroll taxes usually withheld from worker paychecks. [*]The reports come after Congress failed to reach an agreement last week (and remain about $2 trillion apart) after the Democrats and Republicans failed in their discussions following the expiration of the added benefits at July end. [*]The order on unemployment benefits drops the $600 added federal weekly benefit to $400, [URL='https://www.latimes.com/politics/story/2020-08-08/trump-executive-orders-bypassing-congress-coronavirus-relief']the LA Times reported. [/URL] [*]Questions remain about whether Trump as the authority to do so given Congress's power of the purse. The reports indicate Democrats intend to sue to block the unilateral action. A compromise between the the Republican Senate and Democratic House failed last week. [*]The payroll tax suspension is supposed to affect some employees. As it stands, the 12.4% rate assessed on employee salaries is [URL='https://www.taxpolicycenter.org/briefing-book/what-are-major-federal-payroll-taxes-and-how-much-money-do-they-raise']split between the employee and employer. [/URL] [/LIST] [/QUOTE]
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