Businesses Fear Getting Caught in the Middle of Trump’s Payroll Tax Cut


President Trump recently signed several executive orders that are designed to boost the economy and provide relief to people who have been financially hurt by the pandemic. One of the orders was a payroll tax cut. However, experts still have a lot of questions about this payroll tax cut. Many people wonder how and when the deferred taxes will be collected if this is not permanent. The president will not be able to make this permanent without congressional approval.

Most economists are not a fan of the tax cuts. They stated that it has limited effectiveness because it does not help people who are unemployed or retired. It also does not help other people who are out of the workforce. However, this is something that the Trump Administration has pushed for since the coronavirus pandemic began.

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