It appears that Donald Trump’s plan for dealing with economic disruption from the Covid-19 outbreak is a waiver of the payroll tax, but only through the election.
Why am I not surprised that he is viewing this entire crisis as a nothing more than an opportunity to score political points?
Donald Trump told Republican senators on Tuesday that he wants a payroll tax holiday through the November election so that taxes don’t go back up before voters decide whether to return him to office, according to three people familiar with the president’s remarks.
Trump spoke to the Republicans at their weekly conference lunch at the Capitol as his administration prepares a package of economic measures to combat the fallout from the coronavirus outbreak. But the administration does not have a particularly detailed plan, several Republicans said including John Thune of South Dakota.
Other Republicans are suggesting a bailout of the fracking industry, because that never profitable industry faces a more immediate reckoning* over collapsing oil prices.
*The investments have not passed from the Vampire Squid and its Evil Minions™ down the financial food chain to ordinary investors, and the Republicans must prevent that.