The moves were criticized by Democrats and some Republicans as, variously, providing little real help, an unconstitutional power grab from Congress, and a backhanded way to defund Social Security and Medicare.
President Donald Trump’s move to halt the collection of taxes that fund America’s main support programs for the elderly spurred a wave of political opposition and threatens to generate tension between employers and workers.
President Donald Trump announced four executive actions on Saturday, including continued expanded unemployment benefits and a temporary payroll tax deferral for some workers, as the coronavirus pandemic continues to hobble the U.S. economy.
The Internal Revenue Service is giving extra time to companies that make and sell sport fishing and archery equipment to file and pay their excise taxes due to the novel coronavirus pandemic.
U.S. Senator Bernie Sanders said he will introduce legislation to tax what he called the “obscene wealth gains” from billionaires during the coronavirus crisis.
Democrats are demanding more Republican concessions to meet an end-of-the-week deadline for a deal on pandemic relief, and one of the chief White House negotiators warned there is little time left for negotiations.
The Internal Revenue Service is sending $500 payments to the children of some stimulus relief recipients who hadn’t gotten that part of the aid package after lawmakers complained that the agency wasn’t moving fast enough.
The American Institute of CPAs joined with more than 170 organizations in asking congressional leaders to allow businesses to write off expenses associated with loan forgiveness under the Paycheck Protection Program.
White House and Democratic negotiators driving toward a deal on a final massive virus relief package by the end of the week still must overcome a raw mix of election-year pressures, internal GOP splits and a profound lack of trust between the parties.
Granting and forgiving loans in different years can create problems.