A payroll tax cut is nothing more than another handout to corporations, which offers no assistance to the tens of millions who are unemployed now.
John,
The Senate is back in session and that means that this week we should get our first glimpse at the next COVID-19 aid package.
With tens of millions of people still out of work due to the pandemic-caused recession, much of the focus is on whether or not Senate Majority Leader Mitch McConnell will continue the $600 weekly enhanced unemployment benefits that expire in about a week.
But, instead of fighting for direct cash aid to people and families in need, what is Donald Trump doing? Demanding a payroll tax cut, which does nothing to help those who are out of work and does little for the rest of us.[1] Just look at this Washington Post headline:
A payroll tax cut is another handout to corporations, and it also offers no assistance to the tens of millions who are unemployed now. And it can undermine Social Security’s dedicated funding. We’re fighting back, demanding that the next COVID-19 aid package rejects handouts to corporations and the wealthy and focuses aid where the need is greatest.
Working families would get a lot more financial aid from the House-passed HEROES Act, which is sitting at the Senate desk, than they will get from Trump’s misguided payroll tax cut.[2]
Yesterday, Trump told Fox News Sunday, “I would consider not signing [the COVID-19 aid package] if we don’t have a payroll tax cut, yes.”[3]
This is only the latest example of Trump siding with the rich and corporations over working people. Recall, Trump’s tax scam overwhelmingly benefited the rich and corporations.
And, according to our allies at the Coalition on Human Needs, a nine-month “payroll tax holiday” would cost Social Security $840 billion in funding, and would provide $0 in aid to the tens of millions who are still unemployed.[4]
Thank you for fighting for a tax system and a pandemic response that puts people first.
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] “Trump demands payroll tax cut while GOP eyes benefits cuts for unemployed,” Washington Post, July 19, 2020
[2] “Payroll Tax Cut Is Poor Stimulus,” Center on Budget and Policy Priorities, May 12, 2020
[3] “Weekly Tax,” Politico, July 20, 2020
[4] “COVID-19 Watch, Tracking Hardship,” Coalition on Human Needs, July 17, 2020
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