White House drops payroll tax cut after GOP allies object

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U.S. TREASURY SECRETARY Steven Mnuchin said that the Trump Administration has dropped its current bid to cut Social Security payroll taxes as Republicans prepare to unveil a $1 trillion COVID-19 rescue package. / AP FILE PHOTO/EVAN VUCCI
U.S. TREASURY SECRETARY Steven Mnuchin said that the Trump Administration has dropped its current bid to cut Social Security payroll taxes as Republicans prepare to unveil a $1 trillion COVID-19 rescue package. / AP FILE PHOTO/EVAN VUCCI
WASHINGTON (AP) – The White House reluctantly dropped its bid to cut Social Security payroll taxes Thursday as Republicans prepared to unveil a $1 trillion COVID-19 rescue package, yielding to opposition to the idea among top Senate allies. “It won’t be in the base bill," said Treasury Secretary Steven Mnuchin, speaking on CNBC about the…

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