Trump wants to include a payroll tax cut to provide relief to the working class, but experts believe that it will affect social security.
Payroll taxes are taxes imposed on employees that are withheld to fund Social Security and Medicare. President Trump has argued for a payroll tax cut to help workers keep cash in their pockets and to boost the economy. He has signaled that he will refuse to sign the new coronavirus stimulus package if it doesn't include a payroll tax cut. But the Congress has so far not accepted the idea.
The CBPP has observed that a payroll tax cut would blow a hole in the trust funds that support the Social Security benefits for retirees and helps fund the Medicare healthcare program for Americans over the age of 65. Social Security Works states that payroll taxes are dedicated revenue for the Social Security program, and any cuts to payroll taxes would serve to defund Social Security, by starving it of its most dedicated source of income.
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