Mnuchin: Payroll tax cut won't be in GOP coronavirus bill

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Mnuchin: Payroll tax cut won't be in GOP coronavirus bill
By Naomi Jagoda - 07/23/20 09:20 AM EDT

Treasury Secretary Steven Mnuchin on Thursday indicated that a payroll tax cut won't be in the coronavirus relief bill that Senate Republicans are expected to start unveiling shortly.

"It won't be in the base bill," he said on CNBC. He added that a payroll tax cut could be part of a subsequent coronavirus relief package.

President Trump has said that a payroll tax cut is a must-have for him. But Democrats, as well as a number of key Republicans, have opposed the idea, expressing concerns about the impact a payroll tax cut would have on the Social Security trust fund.

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https://thehill.com/policy/finance/508653-mnuchin-payroll-tax-cut-wont-be-in-gop-coronavirus-bill

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Payroll tax cut sought by Trump will not be part of next coronavirus bill: Mnuchin

by Katherine Doyle, White House Correspondent |   | July 23, 2020 09:33 AM

President Trump's call for a payroll tax holiday will not be in the next coronavirus stimulus package, but the tax cut could turn up in a future bill, Treasury Secretary Steven Mnuchin said.

“Not in this bill," Mnuchin told reporters outside the White House on Thursday. "But we're going to come back again. There may be a CARES 5.0."

Trump has repeatedly called for the cut and said he could veto a package that does not include it. "I would consider not signing it if we don’t have a payroll tax cut,” the president told Fox News's Chris Wallace last week.

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https://www.washingtonexaminer.com/news/payroll-tax-cut-sought-by-trump-will-not-be-part-of-next-coronavirus-bill-mnuchin

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