Politics
Trump Finds Skeptics Instead of Allies for Prize Payroll Tax Cut
- Economists say consumers unlikely to spend extra money
- Tax break isn’t targeted to those most in need, economists say
This article is for subscribers only.
President Donald Trump has fixed his sights on getting a payroll tax cut in the next coronavirus stimulus bill, but it’s unclear whether he can get Republicans -- much less Democrats -- to go along with such a high-cost item that likely would have only a modest impact on the economy.
Trump has been pushing a payroll tax reduction for months and on Sunday used it to draw a line in the sand as lawmakers begin haggling over another round of rescue legislation for a reeling U.S. economy.