President Trump announced executive orders on Saturday extending federal unemployment benefits, ... [+] providing eviction protections, deferring student loan payments, and instituting a payroll tax holiday as coronavirus stimulus package negotiations falter. The four executive actions relate to unemployment benefits, payroll taxes, rental foreclosures, and student loans. MORE FROM FORBES Expect $600 Federal Unemployment Checks Slashed To $400 Or LessMeanwhile, Republicans have adamantly opposed the $600 extension. “I’m not a fan of that,” said John Thune (R-South Dakota), the second-ranking senator, speaking of a payroll tax cut. There are several execution challenges with Trump’s action because it doesn’t actually cut the payroll tax, but rather delays its collection.

Source: Forbes August 08, 2020 20:42 UTC