White House drops payroll tax cut after GOP allies object

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…

Want More?

Subscribe or register with Providence Business News to keep reading.

REGISTER
for 2 more stories

Subscribe now for $1 for 4 weeks
Already a Subscriber? Login now

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

- Advertisement -

No posts to display