Posted on 08/08/2020 2:22:28 PM PDT by Libloather
WASHINGTON - President Donald Trump signed executive orders Saturday for coronavirus economic relief, upending negotiations with Congress after lawmakers failed to reach a deal on Friday.
The executive orders establish a payroll tax holiday through the end of the year for Americans earning less than $100,000 a year.
They also defer student loan payments through the end of the year; continue eviction moratoriums; and extend enhanced unemployment benefits that expired last week, but at a reduced level of $400 instead of the prior $600.
"If I'm victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax," Trump said. "Joe Biden and the Democrats may not want that, they don't want that."
The orders, which Trump announced in a press conference at his golf club in Bedminster, New Jersey, come after talks with Democrats over another round of assistance hit an impasse Friday.
Democrats promised last week to file a legal challenge if Trump acted through executive order to circumvent Congress, which has the constitutional authority to determine federal spending.
Trump brushed off those challenges Saturday, telling reporters "I guess, maybe they'll bring legal actions, maybe they won't. But they won't win."
(Excerpt) Read more at msn.com ...
Democrat outrage above normal levels.
I’m fine with Trump continuing the stipend, but reducing it to $400. Purveyors of power tools, green lasers, umbrellas, and small firearms will be deeply saddened, however.
With that out the way, I sincerely hope that 100-plus years of progressive government giving more and more power to the executive branch actually gives him the authority to do this stuff. (Like with DACA, I find these things questionable.) Otherwise, we will soon be back to the Trump Admin resuming negotiations with Schmucky, Botox and the AWOL GOP-e.
This is utterly insane, they are paying people not to work. So instead of $1000 a week unemployment they will now get $800 a week, oh yeah, that will make a difference. Me and my company have been going through hell all summer, we distribute farm goods and we can’t find any drivers, last year we had 9, this year 2 and one driver is out now due to kidney stones so now we have one.
And now this will dominate the Sunday shows.
Just an additional comment to my #4 post, does Trump also realize he is financing BLM/Antifa terrorism? None of these pukes work, that’s why they are able to commit terror attacks late at night!!
Let the Dims bring legal challenges, it would be even better, so they will paint themselves as the party who want to take Wuhan Flu relief away from people :)
Plus the $1200 stimulus like last time(?)
Biden will reallocate the DoD budget.
Trump is a moron.
I think that only comes if Trump reaches a deal with the Revolutionary communist party formerly known as the Democrap party. Nutzi Pelosi wants Trump to give money to all these cities that were and are being destroyed by the BLM/Antifa terrorists and Trump rightly is saying to hell with them because the Mayors, and Governors refuse to stop it. So in other words, the terrorists will continue to get a lot of money from unemployment and people working like me will get dick.
“Trump’s Executive Order would include these four components:
(1) a payroll tax holiday until the end of the year,
(2) an extension of enhanced unemployment benefits until the end of the year,
(3) an extension of the eviction moratorium for federal subsidized housing, and
(4) a suspension of student loan payments until further notice. “
$1200? I’m gonna guess NO.
And you’re a retard for ignoring, or just not caring, why it has come to this in the first place, IMO.
(c) The Secretary of Housing and Urban Development shall take action, as appropriate and consistent with applicable law, to promote the ability of renters and homeowners to avoid eviction or foreclosure resulting from financial hardships caused by COVID-19. Such action may include encouraging and providing assistance to public housing authorities, affordable housing owners, landlords, and recipients of Federal grant funds in minimizing evictions and foreclosures.
Sec. 2. Deferring Certain Payroll Tax Obligations. The Secretary of the Treasury is hereby directed to use his authority pursuant to 26 U.S.C. 7508A to defer the withholding, deposit, and payment of the tax imposed by 26 U.S.C. 3101(a), and so much of the tax imposed by 26 U.S.C. 3201 as is attributable to the rate in effect under 26 U.S.C. 3101(a), on wages or compensation, as applicable, paid during the period of September 1, 2020, through December 31, 2020, subject to the following conditions:
(a) The deferral shall be made available with respect to any employee the amount of whose wages or compensation, as applicable, payable during any bi-weekly pay period generally is less than $4,000, calculated on a pre-tax basis, or the equivalent amount with respect to other pay periods.
(b) Amounts deferred pursuant to the implementation of this memorandum shall be deferred without any penalties, interest, additional amount, or addition to the tax.
Sec. 3. Authorizing Guidance. The Secretary of the Treasury shall issue guidance to implement this memorandum.
Sec. 4. Tax Forgiveness. The Secretary of the Treasury shall explore avenues, including legislation, to eliminate the obligation to pay the taxes deferred pursuant to the implementation of this memorandum.
Nope. Payroll tas furlough. Ends up about the same.
Didn’t read anything about all that...
yes I think the payroll tax was his gift for cash flow/spending money.
Here is the executive order link on Evictions.
https://www.whitehouse.gov/presidential-actions/executive-order-fighting-spread-covid-19-providing-assistance-renters-homeowners/
I want to know if somebody can help decipher whether or not this includes random private landlords getting caught up in this ?
Sec. 2. Extension of Student Loan Payment Relief. (a) In light of the national emergency declared on March 13, 2020, the Secretary of Education shall take action pursuant to applicable law to effectuate appropriate waivers of and modifications to the requirements and conditions of economic hardship deferments described in section 455(f)(2)(D) of the Higher Education Act of 1965, as amended, 20 U.S.C. 1087e(f)(2)(D), and provide such deferments to borrowers as necessary to continue the temporary cessation of payments and the waiver of all interest on student loans held by the Department of Education until December 31, 2020.
(b) All persons who wish to continue making student loan payments shall be allowed to do so, notwithstanding the deferments provided pursuant to subsection (a) of this section.
Better $400 coming from Trump while standing on Pelosi’s neck than $600 coming from your friendly, caring, accepting, Democrat Collective Representative, ... providing you Vote Democrat and sign here in blood.
Yes, I know what debt does, long term.
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