Senate Majority Leader McConnell Against Payroll Tax Cut – Report

Senate Majority Leader McConnell Against Payroll Tax Cut – Report

© Reuters. © Reuters.

By Kim Khan

Investing.com – Senate Majority Leader Mitch McConnell is reluctant to support a U.S. payroll tax cut, which looked to be a major plank of President Donald Trump’s fiscal stimulus program to combat damage from Covid-19, the Washington Post reported Tuesday.

“McConnell has made it clear to allies in recent days that he does NOT like the payroll tax cut idea, which was floated by President Trump on Monday,” the Post’s Robert Costa tweeted.

McConnell hasn’t “taken a firm position” ahead of the White House’s meeting with Senate Republicans today, but that is “his private view,” Costa wrote, citing two people briefed on the situation.

Trump said at the end of a Covid-19 briefing late Monday that there would be an official announcement about economic stimulus measures today, and specifically mentioned a payroll tax cut, but there has been no official announcement scheduled.

The president surprised his White House staff by promising details today, Reuters reported.

A payroll tax cut would take the cooperation of Congress, which proved difficult for President Barack Obama when he pressed for one in the wake of the Financial Crisis.

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