(Photo: Bloomberg)
President Trump reportedly pitched a payroll tax holiday through November's election to Senate Republicans on Tuesday. Trump's payroll cuts, reported by several media outlets, would be part of a larger stimulus package to counter slowing consumer demand and equity market turmoil amid the spread of new coronavirus cases in the U.S.
But the idea has had a cool reception from Congressional Democrats, who are reportedly looking to advance legislation that would focus on expanded paid leave for those that are sick, extended unemployment insurance, and free testing for the virus.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
