President Trump signed an executive order yesterday to extend the federal enhanced unemployment benefits that expired last week.
President Trump signed four executive orders yesterday to help provide relief from economic hardship sustained during the coronavirus pandemic.
The executive order extends the enhanced unemployment benefits that expired last week but at a reduced level of $400 instead of the prior $600.
The president said he was directing the federal government to cover 75 percent ($300) of the enhanced unemployment, but the states will have to cover the remaining 25 percent.
Most noticeably missing from the package was a much anticipated new round of $1,200 stimulus checks to all American taxpayers.
The 3 presidential memorandum order that:
- Payroll taxes are deferred for Americans earning less than $100,000 a year.
- Implement a moratorium on evictions and give financial assistance to renters.
- Postpone student loan interest and payments through the end of 2020.
The president further stated that his administration is considering cuts to income taxes for “middle-income people,” as well as capital gains taxes to encourage job growth.