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Tags: Coronavirus | schumer | payrolltax | trump

Schumer: Payroll Tax Cut Plan Just a 'Deferral,' Won't Achieve Goal

chuck schumer speaks to the press as nancy pelosi stands beside him
Senate Minority Leader Sen. Chuck Schumer, D-N.Y. ,and Speaker of the House Rep. Nancy Pelosi, D-Calif., speak to members of the press on August 7, 2020. ( Alex Wong/Getty Images)

By    |   Sunday, 09 August 2020 11:28 AM

Senate Minority Leader Charles Schumer, D-N.Y., on Sunday called President Donald Trump’s executive order on a payroll tax cut “way off-base.”

In an interview on ABC News’ “This Week,” Schumer said it won’t do what Trump intends — to put money into the economy.

“The payroll tax cut is … just way off-base,” he charged.

“It's a deferral, and so it accumulates until January, when it expires,” he said. “Employers are just going to continue [to] withhold the money — I have talked to some — because they don't want their employees to be stuck with a huge bill in December.”

“So it's not going to pump money into the economy,” he continued. “And second, the president said ‘if elected I will forgive all this,’ that depletes money out of the Social Security and Medicare trust funds.

“If you're a Social Security recipient or Medicare recipient, you better watch out if President Trump is re-elected,” he warned.

He called the executive orders “in one word… paltry, in three words, unworkable, weak and far too narrow.”

“The [signing] event at the country club is just what Trump does, a big show, but it doesn't do anything,” Schumer charged. “And, as the American people look at these executive orders, they will see they don't come close to doing the job in two ways.

“One, is what they proposed, and, second, what's left out.”

According to Schumer, the unemployment pay plan amounts to a pay cut for those who need the money the most.

“Americans want to work,” he said. “But with 10, 11% unemployment, you can't find the job, and people shouldn't be given a pay cut.”

“This is an unworkable plan,” he continued. “Most states will take months to implement it, because it's brand new. It's sort of put together with spit and paste. And many states, because they have to chip in $100, and they don't have money, won't do it.”

“It doesn't do the job … it's not going to go into effect in most places for weeks or months because it's so put together in a crazy way," he added.

Schumer also laid into the president for “resisting” supporting sanctions to prevent election interference by Russia.

“It is absolutely true that Russia is trying to interfere from public information and public statements,” he said. “And we are trying, we Democrats are trying to stop it in the defense bill. We want to put tough sanctions on Russia… before they do something.”

But, he charged, “Trump is resisting. Why does Donald Trump not want to stop Russia from interfering in this election? You have to ask that question. It’s the wellspring of our democracy.”

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Politics
Senate Minority Leader Charles Schumer, D-N.Y., on Sunday called President Donald Trump's executive order on a payroll tax cut "way off-base."In an interview on ABC News' "This Week," Schumer said it won't do what Trump intends - to put money into the economy."The payroll...
schumer, payrolltax, trump
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2020-28-09
Sunday, 09 August 2020 11:28 AM
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