(Photo by Ron Sachs – Pool/Getty Images)
Democrats and Republicans failed to agree on a second stimulus package, and Congress was unable to deliver the second stimulus aid on its self-imposed deadline.
Trump wants to address the stimulus matter by taking things in his hands via executive orders. In this speech today, he made it clear if policymakers do not resolve the second stimulus package issue, he will. He said, “If Democrats continue to hold this critical relief, I will act under my authority as president to get Americans the relief they need.”
It is essential to mention that Trump said before that he could be issuing executive orders today to address the second stimulus aid package. From a legal standpoint, it is still not clear if he can do that.
But now it seems like he is still relying on his administration. Trump has some hope from policymakers who are involved in this negotiation process.
Trump said, “my administration continues to work in good faith to reach an agreement with Democrats in Congress that will extend unemployment benefits provide protections against evictions.”
Trump continued to blame Democrats for not having an agreement on the second stimulus package. He said, “Nancy Pelosi and Chuck Schumer continue to insist on radical left-wing policies that have nothing to do with the China virus. So, you have a virus that comes in, and you have people in Congress that don’t want to help our people.”
Trump continued to blame Democrats for not having an agreement on the second stimulus package. He said, “Nancy Pelosi and Chuck Schumer continue to insist on radical left-wing policies that have nothing to do with the China virus. So, you have a virus that comes in, and you have people in Congress that don’t want to help our people.”
He blamed China again for the coronavirus crisis in the U.S. He said, “we were infected with this disease from China.”
Here are some details provided by Trump on his potential executive orders to address the payroll tax, unemployment benefits, eviction moratorium, and student loan issues.
Payroll Tax Defer
Trump made some significant announcements that could take place under his presidential executive order. He said, ” we’re going to have the payroll tax go till the end of the year, and it’ll be retroactive to July 1. So we’re going to go back to July 1, and it’ll go to the end of the payroll tax. At the end of the year, it may be extended.”
Unemployment Benefits To Be Extended Until the end of 2020
If Trump executes the executive order, he plans to extend the unemployment benefits until the end of 2020. He said, “We’re going to enhance unemployment benefits through the end of the year.”
Student Loans Will Be Deferred, Interest Rates Will Be Forgiven
If executed, Trump will defer student loan payment under the presidential executive order and forgive interest payments until further notice. This is certainly a big one for students.
Extend Evictions Moratorium
Trump also talked about the eviction moratorium. For him, it is unfair, “people are evicted, not their fault.” He said he would be extending the eviction moratorium.
