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Economics

Struggling Economy Gets Only Limited Help From Trump Actions

  • Payroll-tax deferral seen failing to help those who need aid
  • Jobless relief could run out in as little as one to two months
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Watch: President Donald Trump announced four executive actions on Saturday, including a temporary payroll tax deferral for some workers and continued expanded unemployment benefits, as the coronavirus pandemic continues to hobble the U.S. economy. (Source: Bloomberg)
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The executive actions signed by President Donald Trump on Saturday add up to a thinning lifeline of support for an already-stalling U.S. economic recovery, but may refocus lawmakers on getting back to the table for negotiations.

Trump’s redirection of disaster-relief funds would provide $300 a week in federal aid to the unemployed, plus $100 in state funds -- down from the weekly $600 in the Cares Act that expired in July. That money is capped at $44 billion, which at the current level of unemployment could run out in one to two months.