[Ed. – A payroll tax cut and extension of unemployment benefits are included.]
President Donald Trump on Friday said he would be signing an executive order related to the Wuhan coronavirus sometime this week. The order will extend unemployment benefits and student loan deferment to the end of the year. Businesses will also see a payroll tax cut until the end of 2020.
“We’re going to have the payroll tax go ’til the end of the year and it’ll be retroactive to July 1st. So we’re going to go back to July 1st. It’ll go to the end of the year, payroll tax. At the end of the year, it may be extended,” he explained. …
Under his EO, unemployment benefits are extended. The amount, however, has dropped to $400 a week. …
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Student loan payments are suspended through the end of the year. Interest rates will remain at zero percent.
