President Donald Trump said on Aug. 20 that the White House has long-considered cutting payroll tax and rejected warnings about a looming recession.
“Payroll tax is something that we think about and a lot of people would like to see that and that very much affects the … the workers of our country,” Trump told reporters in the Oval Office while in a meeting with Romanian President Klaus Iohannis.
Trump was responding to reports that his administration was considering a temporary payroll tax cut to boost the U.S. economy. This was first reported by Washington Post on Aug. 19, which said discussions over the potential tax cut are in its early stages.
Trump also added that he had been “thinking about payroll taxes for a long time,” contradicting a statement released by a White House official, who spoke on the condition of anonymity, following the Post’s story. According to the official, “cutting payroll taxes is not something under consideration at this time,” Reuters reported. read more