White House economic adviser Larry Kudlow said President Donald Trump’s executive actions to suspend payroll tax Saturday would save the average person about $1,200 …
White House economic adviser Larry Kudlow said President Donald Trump’s executive actions to suspend payroll tax Saturday would save the average person about $1,200 over a period of four months. “I think it’s going to be in a couple of weeks, and I think it’s going to come to about $1,200 per person,” Kudlow said Sunday in a televised interview. Another round of stimulus checks and payments would be worth about $1,200, but talks about a broader CCP (Chinese Communist Party) virus stimulus bill are currently in limbo. In the midst of the pandemic, the president has repeatedly suggested a payroll tax cut, meaning that some money won’t be going to Medicare and Social Security. It’s drawn a rebuke from both Democrats and Republicans in Congress. “With respect to the payroll tax, basically we’re giving 140-some-odd million people who worked through this pandemic, they’re heroes, we’re giving them about a $1,200 wage increase after tax,” Kudlow remarked on CNN’s “State of the Union.
