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The Trump administration's proposed unemployment boost could be just $300 in some states — only half of the previous expired federal benefit

The Trump administration's proposed unemployment boost could be just $300 in some states — only half of the previous expired federal benefit

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.An icon in the shape of a person's head and shoulders. It often indicates a user profile.Redeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.The Trump administration's executive order on unemployment may end up raising weekly benefits by only $300 in some states — around half the $600 level they once were before expiring at the end of July.Under the the president issued on Saturday, state governments would assume 25% of...

August 11, 2020
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Trump pledged to permanently scrap the payroll taxes used to fund Social Security and Medicare if he wins re-election

Trump pledged to permanently scrap the payroll taxes used to fund Social Security and Medicare if he wins re-election

The words "Business Insider".Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.President Donald Trump pledged on Saturday to scrap the payroll tax, a key mechanism that's used to fund Social Security and Medicare."If I'm victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax," Trump said at a press conference. "I'm going to make them all permanent."He later said: "In other words, I'll extend it beyond the end of the year and terminate the tax. So we'll see what happens."The federal...

August 9, 2020
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Trump's $400 weekly boost to unemployment insurance won't increase benefits for jobless Americans anytime soon

Trump's $400 weekly boost to unemployment insurance won't increase benefits for jobless Americans anytime soon

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.An icon in the shape of a person's head and shoulders. It often indicates a user profile.Redeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.President Donald Trump signed an on Saturday to bypass Congress and implement economic relief measures on his own.Among them was a $400 federal supplement to state unemployment insurance through December 6. Trump claimed the relief would reach Americans in a "very rapid" manner, but...

August 9, 2020
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Trump implementing a payroll tax cut through executive order would blow a hole in Social Security and Medicare's finances, economists warn

Trump implementing a payroll tax cut through executive order would blow a hole in Social Security and Medicare's finances, economists warn

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.An icon in the shape of a person's head and shoulders. It often indicates a user profile.Redeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.A group of economists at a think tank are warning that if President Donald Trump moves forward with a payroll tax cut through an executive order, the step would weaken the funding mechanisms for Social Security and Medicare.Over the past week, the president has threatened to...

August 7, 2020
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The GOP wants to move boosted unemployment benefits to a new percentage-based system — but experts warn the rollout could be a logistical nightmare

The GOP wants to move boosted unemployment benefits to a new percentage-based system — but experts warn the rollout could be a logistical nightmare

The words "Business Insider".Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Republicans are pushing to end a $600 federal payout to state unemployment benefits and eventually replace it with a new wage-based formula that doesn't pay millions of laid-off workers more than they earned on the job.It's a cornerstone of their stimulus plan to aid the unemployed. on Monday after days of GOP hangups over which measures to pursue and remedy an economy .Under the proposal, a $200 federal payout would be kept in addition to state unemployment...

August 1, 2020
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Treasury Secretary Mnuchin says Republicans will push for the federal unemployment boost to cover 70% of a jobless person's past wages

Treasury Secretary Mnuchin says Republicans will push for the federal unemployment boost to cover 70% of a jobless person's past wages

The words "Business Insider".Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Treasury Secretary Steven Mnuchin said on Thursday that Republicans will seek to implement enhanced unemployment benefits so they cover 70% of a jobless person's previous wages.During an interview with CNBC's "Squawkbox," Mnuchin said the GOP want to put in place a federal payout that ensures people would have adequate incomes while they're out of work.—Squawk Box (@SquawkCNBC)  "We want to make sure that the people that are out there that can't find...

July 23, 2020
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A top Senate Republican says a stimulus check would 'do more economic good' than the payroll tax cut that Trump is seeking

A top Senate Republican says a stimulus check would 'do more economic good' than the payroll tax cut that Trump is seeking

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.An icon in the shape of a person's head and shoulders. It often indicates a user profile.Redeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.Republican Sen. Chuck Grassley of Iowa said on Monday afternoon that a stimulus check would "do more economic good" than the payroll tax cut that President Donald Trump has staunchly advocated for.Grassley, the chairman of the Senate Finance Committee, said a direct payment would be...

July 20, 2020
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Mitch McConnell floated a $40,000 income cutoff for a 2nd round of stimulus checks. That could leave out 20 million Americans who benefited from the first wave.

Mitch McConnell floated a $40,000 income cutoff for a 2nd round of stimulus checks. That could leave out 20 million Americans who benefited from the first wave.

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.An icon in the shape of a person's head and shoulders. It often indicates a user profile.Redeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.More Republicans in Congress are signaling a willingness to get on board with another round of $1,200 stimulus checks for Americans as lawmakers debate what should be included in another economic relief package.For months, GOP lawmakers have expressed alarm about the substantial...

July 10, 2020
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A new GOP bill would give each taxpayer $4,000 to take a vacation anywhere in the US through the end of 2021

A new GOP bill would give each taxpayer $4,000 to take a vacation anywhere in the US through the end of 2021

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.An icon in the shape of a person's head and shoulders. It often indicates a user profile.Redeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.A new Republican bill would give each American $4,000 to take a vacation anywhere in the US through the end of next year.Sen. Martha McSally on Monday, called the American Tax Rebate and Incentive Program Act, or the American TRIP Act. It would give each person a tax credit, meaning...

June 23, 2020
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Business groups say implementing Trump's payroll-tax holiday would be 'unfair to employees,' warning some workers could be stuck with a $2,200 tax bill next year

Business groups say implementing Trump's payroll-tax holiday would be 'unfair to employees,' warning some workers could be stuck with a $2,200 tax bill next year

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.An icon in the shape of a person's head and shoulders. It often indicates a user profile.Redeem nowGet the inside scoop on what traders are talking about — delivered daily to your inbox.Something is loading.A group of prominent business leaders across the retail, manufacturing, clothing, and restaurant industry to the White House and top lawmakers in Congress on Monday calling President Donald Trump's payroll tax order "unfair to employees," and possibly "unworkable" for employers.The...

August 18, 2020
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