Neal and Larson Slam Prospect of President Trump Unilaterally Halting the Collection of Payroll Taxes
WASHINGTON, DC – Today, Ways and Means Committee Chairman Richard E. Neal (D-MA) and Social Security Subcommittee Chairman John B. Larson (D-CT) released the following statement regarding the suggestion that President Trump circumvent Congress to temporarily defer the collection of payroll taxes:
“Republicans and Democrats in both the House and Senate have rejected the President’s proposal to include a payroll tax cut in the next COVID-19 response package, yet the President remains fixated on the foolhardy idea. A payroll tax cut does not help unemployed Americans – the group of people most in need right now – and it would drain money from Social Security and Medicare. It is difficult to fathom a worse moment to weaken these lifelines than during a pandemic and crushing economic recession. While Republicans have long sought to gut these earned benefits, doubling down on those efforts while the COVID crisis rages on would be particularly heartless.
“Because of GOP inaction, people are losing their homes and struggling to afford food. If the President truly wanted to support workers and families, he would pressure Senate Republicans to pass the Heroes Act and extend the $600 emergency unemployment benefit through the end of January 2021, as the House did back in May. During times like these, we should be expanding and strengthening Social Security – that’s why we introduced the Social Security COVID Correction and Equity Act.”