US House Speaker Nancy Pelosi listens during a news conference in the US Capitol in Washington July 29, 2020. — Reuters pic
Trump told reporters in New Jersey before returning to Washington yesterday that his suspension of the collection of the payroll tax could be made permanent. He said doing so would have no impact on Social Security because reimbursement would be made through the general fund. Yesterday, both Pelosi and Mnuchin appeared willing to consider a narrower deal that would extend some aid until the end of the year, and then revisit the need for more federal assistance in January. That would come after November’s election, which could rebalance power in Washington.
Mnuchin appeared open to consider the idea, telling Fox: “Anytime they have a new proposal, I am willing to listen.”The House passed a US$3.4 trillion coronavirus support package in May that the Republican-led Senate ignored for weeks before putting forward a US$1 trillion counteroffer.
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