U.S. Chamber Backs Payroll Tax Cut, Fed Loans to Face Virus
- Chamber urges cancellation of payroll tax for three months
- Fed should be allowed to ease lending restrictions, group says
A cyclist rides past the U.S. Chamber of Commerce.
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The U.S. Chamber of Commerce called Monday for a three-month cancellation of all payroll taxes paid by employers to address “a sudden and sharp drop in demand” facing businesses due to the coronavirus pandemic.
The powerful lobbying group included the recommendation, which faces bipartisan skepticism, among three policy proposals that it said the U.S. should enact in addition to an economic relief package the House passed last week.