WASHINGTON: US President Donald Trump's weekend attempt to sidestep stalled congressional negotiations over the next coronavirus aid package will do little to boost the economy, experts said.
Millions of jobless Americans could be financially squeezed this month after the expiration of a US$600 weekly supplement to unemployment benefits, the winding down of eviction moratoriums across the country and the end of the Paycheck Protection Program, which supported small businesses.Some of the measures proposed by Trump would take time to set up and could be challenged in court, experts said.
A measure that would defer employees' share of the Social Security payroll tax from September through December is not expected to have a noticeable impact on spending because it helps people who are still working, wrote Boussour. Workers would still owe the taxes later.
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