Stimulus Talks Have Broken Down
Here’s What Trump is Doing About It

President Trump has signed executive orders for Coronavirus relief. Let’s talk about what that means.

‘What is the President doing to help Americans suffering during the pandemic?’ is the question on tens of millions of Americans’ minds as the assault of COVID19 rages on.

Over the weekend of August 8th, President Trump signed the following Executive Orders:

– A payroll tax deferral (eliminating most withholding for Social Security and Medicare) until the end of 2020 NOTE: These taxes will be due in full after the deferral ends.

– Additional federal unemployment benefits of $400 until the end of the year (originally expired on July 31st). States would shoulder 25% of the cost per resident.

– A moratorium on evictions…in theory. There are currently no set-aside funds to assist those who are housing insecure due to COVID-19. The executive order directs HUD to find available funds to assist.

– Extension of student loan deferral. Originally set to expire September 30th, student loan assistance would remain in place until the end of the calendar year.

Though the President has issued these executive orders, his instructions have a long way to go before being enacted. There’s a very real possibility that the legality of the orders will be challenged in court.

Even if found to have merit, Congress must approve since they hold the purse strings. What happens next remains to be seen. In the meantime, Congress will continue negotiations through what would normally be their August recess.

Stay tuned for updates.