Government Finance, Government Budget/Taxation, Direct Taxation, Payroll Taxes, Political/General News, Politics/International Relations, Government Bodies, Legislative Branch

Government Finance, Government Budget/Taxation

Trump’s Payroll-Tax Deferral Creates Predicament for Congress

Lawmakers haven’t figured out what to do for federal workers who got a temporary paycheck boost but now face a looming cut in take-home pay.

11/27/2020 9:15:00 PM

President Trump’s payroll tax deferral fizzled with employers, but federal workers who got a temporary boost face a cut in take-home pay in January

Lawmakers haven’t figured out what to do for federal workers who got a temporary paycheck boost but now face a looming cut in take-home pay.

Nov. 27, 2020 11:00 am ETWASHINGTON—President Trump’s decision to defer payroll taxes until the end of the year is leaving challenges for lawmakers to manage after he leaves office in January, and they haven’t figured out what—if anything—to do.Members of Congress in both parties weren’t keen on the August executive action, which let employers stop collecting the 6.2% Social Security payroll tax from many workers in the final four months of 2020. The move was meant as a form of relief during the economic slump caused by the coronavirus pandemic,...

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IS Trump White Yet? Love it. No Capital gains on those profitting from the pandemic and lockdown. It is like writing one's own check. They need time to debate signing a bill, so that they can move their investments around, before passing the Bill. Covid Relief? Put $100k down on Amazon and Kroger. May take some time, but we'll undo his dastardly deeds.

Sowing more confusion My company continued to collect taxes which I was totally in agreement with since this was temporary and provided no real relief since it would’ve been due anyways! This is a shame for an American democratic election, worse than an election in a third-world dictatorship realDonaldTrump He is continuing to make America great!

Trump Trump Trump 🇺🇸🇺🇸🇺🇸🙏🙏🙏🙌🙌🙌💪💪💪 Winner! We need you SUPERTRUMP!!! Congress is a joke. Just once, really I mean always, I want “Congress” to work for the people, not themselves, the Party, the Donors, their Interests but for us the AMERICAN PEOPLE!!! The McConnell Senate will do everything to make Americans suffer, just so they can blame it on Biden. But you know that already.

This isn't difficult. Folks need to pay their taxes. The President's harebrained idea backfired. Who would have thought? This is KIND OF funny, just to see how Congress can handle a SIMPLE employee paycheck-related problem. Majority of employers did not follow Trump’s payroll tax deferral. NO to forgiveness of this tax deferral. What happens to those who did not opt for the deferral and continued to have SS tax deducted from their paychecks?

Make him pay tax is that so hard..if I am late I get fined Trump's staff need to go one bigger for him to be honest. Pens were no good from the word go He's become uncomfortable and emotional with sharpies. Can someone trial setting out a paintbrush and bucket of paint for him to try and make his signatures look even grander? Trump

If it’s a Republican majority at the Senate they will just let the middle class eat it up. In the middle class and my taxes increased a lot because of this guy!!!! Small Desk for a Small Man.. Yet another reason why both the economy will stall AND the stock market will likely go off the rails in 2021. Ahhhh the TAX that Trump is imposing that he was hiding and trying to blame Joe for hmmmmmm

What should Biden name his new cat? 95% only bad news( Quit the whining Our Military will be hit hard. They weren't given an option to opt-out. No one knows when they'll have to pay it back yet many military families are on food stamps! What business wants to pay back a deferral loan with a poor economy in the middle of a pandemic? There is no guarantee yet that this deferral will be forgiven! Trump has no business being President because he is so unfit for the job!

Her Speakership let everyone down. Wearing a mask is not a substitute for congressional action. Didn't have to be this way. That’s why my employer said no to this also. It wasn’t a tax cut of any kind. It’s just a fake. Another Trump decision up that just created more problems than solutions Cry me a river..

It’s ok. Joe will be sending us all free money. Debt will be forgiven. Everything will be free. There will soon be no need to work. Yea! DonTheCon Former President. Yeah, great idea to destroy SS and Medicare on your way out the door 🙄 Trumps Nero decree. Take from the rich. Give to the poor. those stupid tax cuts for the rich will haunt us until Congress grows enough balls to end them. The deficit ballooned under trump and now everyone expects the republican hypocrites to remember they are against huge deficits like the one they have enabled.

DiaperDon REPORT: Biden’s Thanksgiving Day Address gets just 1000 views online, a record low. Observers say a candidate with “80,000,000” votes would get many more online viewers. Numbers don’t lie, or add up! 90% of news about covid and trump It was a dumb idea. Despite repeatedly claiming to be the best at everything, it turns out that Trump is literally the worst at everything. DiaperDon