On Friday President Trump renewed his calls for a broad payroll tax cut as a way to ease the economic pain caused by the coronavirus pandemic after he had previously called for such cuts last month.
The CARES Act, which is the official name of the $2.2 trillion economic stimulus and virus fighting legislation, does allow for employers to defer their payroll tax payments but does not actually cut the levies.
“Democrats are blocking a 251 Billion Dollar funding boost for Small Businesses which will help them keep their employees,” Trump tweeted Friday morning. “It should be for only that reason, with no additions. We should have a big Infrastructure Phase Four with payroll tax cuts and more.”
Trump also tweeted “I think that what’s going to happen is we’re going to have a big bounce rather than a small bounce.”
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