By Evie Fordham FOXBusiness
The payroll tax deferral President Trump enacted via executive order on Saturday would save the average person about $1,200 over four months beginning in September, White House economic adviser Larry Kudlow said Sunday.
ANOTHER HARD CORONAVIRUS LOCKDOWN WOULD HAVE ‘ENORMOUS HUMAN COST’: KUDLOW
“I think it’s going to be in a couple of weeks, and I think it’s going to come to about $1,200 per person,” Kudlow told CNN’s “State of the Union.”
Trump has repeatedly pushed for a payroll tax cut amid the pandemic and included it in the four executive actions he signed this weekend.
A clerk assists customers at the garden center at a Home Depot store in Harrisburg, Pa., on Wednesday, May 6, 2020. (AP Photo/Mark Scolforo)
“With respect to the payroll tax, basically we’re giving 140-some-odd million people who worked through this pandemic, they’re heroes, we’re giving them about a $1,200 wage increase after tax,” Kudlow said.
Trump’s executive orders also included an extension of federally enhanced unemployment benefits that will require states to chip in 25% of the $400-per-individual bump. The administration has not confirmed that all 50 states are on board, Kudlow said.
“So based on our estimates, the states will be able to provide the extra $100,” he said. “We’ll probably find that out today or tomorrow as we make our canvas. We’ve been in touch with them. We have very good records coming out of the Treasury Department. But we will be in touch.”
- AOC calls on Cuomo, de Blasio to raise NY taxes: report
- Murkowski loosens stance on Supreme Court nominee, says she may vote for Trump’s pick
- Trump leaves press briefing for ’emergency phone call’
- McCarthy threatens motion to oust Pelosi if she tries to impeach Trump to delay SCOTUS confirmation
- Outrage erupts as Kentucky AG Cameron explains no criminal charges in Breonna Taylor’s death
- Pelosi trolled by pro-Trumpers with alleged video from California district: ‘Nancy Pelosi does not want you to see this’ on
- Michigan appeals court backs Whitmer’s use of emergency powers amid coronavirus pandemic on
- US troops attacked in eastern Syria, officials say on
- Our leaders have sided with the agents of chaos – we’re told crimes of the mob are our fault on
- US Aircraft Carriers Return to South China Sea Amid Rising Tensions on