President Donald Trump urged getting a payroll tax cut approved and slammed the Federal Reserve Friday morning on Twitter as the novel coronavirus crisis continues to spread.
The White House has been working on a coronavirus stimulus package aimed at helping relieve financial burdens to Americans amid the crisis. Trump tweeted that a payroll tax cut is an efficient and fast way of getting more money into the hands of struggling Americans.
If you want to get money into the hands of people quickly & efficiently, let them have the full money that they earned, APPROVE A PAYROLL TAX CUT until the end of the year, December 31. Then you are doing something that is really meaningful. Only that will make a big difference!
— Donald J. Trump (@realDonaldTrump) March 13, 2020
The president also criticized Chair of the Federal Reserve Jay Powell for “putting us [America] at a decided economic & physiological disadvantage.”
“The Federal Reserve must FINALLY lower the Fed Rate to something comparable to their competitor Central Banks,” Trump tweeted Friday.
The Federal Reserve must FINALLY lower the Fed Rate to something comparable to their competitor Central Banks. Jay Powell and group are putting us at a decided economic & physiological disadvantage. Should never have been this way. Also, STIMULATE!
— Donald J. Trump (@realDonaldTrump) March 13, 2020
The president is aiming to delay the usual April 15 income tax-filing deadline for individuals and small businesses until December 31. Another possibility that has reportedly been discussed are bailouts for certain industries hit particularly hard because of the virus. (RELATED: What Will Trump’s Coronavirus Stimulus Actually Look Like? Will Democrats Fight It?)