There is approximately zero support in Congress for a payroll tax cut. The White House says President Trump won't sign any coronavirus relief package without one
Deal master. Photo: Nicholas Kamm/AFP via Getty Images The coronavirus crisis has long pitted the GOP’s ideological commitments against its electoral interests. As the party presiding over an election year recession, Republicans have a strong political incentive to flood the economy with fiscal support.
And now, with the CARES Act’s unemployment provisions set to expire at month’s end, Republicans are reportedly fighting to slash the incomes of 32 million unemployed Americans — at the peak of a pandemic, and just months before voters head to the polls — in order to combat the nonexistent problem of overly generous unemployment benefits reducing the national labor supply.
There is approximately zero support in Congress for a payroll tax cut. Republicans aren’t interested in such a measure because it does not benefit owners of capital, is fiscally expensive, and does less to mitigate the political downsides of the party’s miserliness than means-tested stimulus checks would. Democrats, meanwhile, are reluctant to cut a tax that theoretically serves as a dedicated source of revenue for Social Security.
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