Trump Solo Act on Payroll Tax Cut Could Lead to Big Bills Later
- Move would only delay due date unless Congress forgives taxes
- Unclear whether employers would have to pass cut on to workers
Donald Trump
Photographer: Michael Reynolds/EPA/Bloomberg
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President Donald Trump said he is “talking about” doing a payroll-tax cut through an executive action, but doing so could result in hefty tax bills for employers later if the idea doesn’t get mired in legal challenges before then.
Trump discussed the possibility Monday after Stephen Moore, an informal economic adviser to the president, wrote about the idea in a Wall Street Journal column.