On Saturday, President Trump took executive action on several economic relief measures as discussions with Congress on a “Phase 4” package continue to lack progress. The actions range from an extension of reduced unemployment benefits to a payroll tax deduction. Some of the details will need federal agency guidance to implement, but below are initial details of these actions:
Extended Unemployment Benefits
President Trump signed an executive order extending supplemental unemployment benefits at a reduced amount of $400. The $600 supplemental benefit authorized by the CARES Act expired on July 31.
NLBMDA had been lobbying for a significant reduction of the $600 supplemental benefit considering the effects it is having on labor availability.
President Trump signed an executive order to provide financial assistance to renters and homeowners to prevent evictions and foreclosures. Key details will need to be implemented by the Department of Housing and Urban Development (HUD), but the available information indicates that this will apply only to properties with federally backed mortgages or HUD programs covered by the Violence against Women Act (VAWA).
Payroll Tax Deduction
President Trump signed a directive deferring payroll taxes for those earning $100,000 per year or less through the end of 2020.
These actions will likely see legal challenges as many have indicated that only Congress has the authority to initiate changes to revenue sources.
NLBMDA continues to advocate on behalf of the industry with a list of key priorities. NLBMDA sources reveal that Democrats and Republicans remain apart on finding common ground for a legislative package. Lawmakers will meet this week to continue discussions in an attempt to reach a compromise before the August recess.
NLBMDA has created two important grassroots campaigns for members to make their voices heard: