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Larson Assails Trump’s Wrong-Headed Notion of a Payroll Tax Holiday

August 7, 2020
Press Release
Urges Expansion of Social Security

Hartford, CT – Today, House Ways and Means Social Security Subcommittee Chairman John B. Larson (CT-01) assailed President Trump’s announcement that he will be implementing a pay roll tax holiday via Executive Order that is retroactive to July 1st through the end of the year.

 

“This Executive Order would be a contradiction of what President Trump hopes to achieve. A payroll tax holiday is not what is needed right now. If the President is serious about offering relief to Americans, he should join Democrats by supporting our emergency legislation to expand Social Security benefits. The Social Security COVID Correction and Equity Act would help those most impacted by COVID-19 (seniors and people of color) and prevent a harmful benefit cut for millions of Americans. Our bill would put money back in Americans’ pockets and not have the harmful effect of weakening Social Security and Medicare that a payroll tax holiday would. These are programs that Americans are relying on more now than ever. President Trump said he wouldn’t cut Social Security, he should live up to his promise and work with us to strengthen it,” said Larson.

 

Earlier this week, Larson and Ways and Means Chairman Richard Neal (D-MA) slammed the idea a payroll tax cut. Larson introduced the Social Security COVID Correction and Equity Act which would prevent a benefit cut that will occur for 5 million Americans because of the COVID-induced recession and expand benefits.

 

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