After Congress failed to come to a consensus, President Trump decided to exercise his executive powers to go against them and sign executive orders extending both payroll tax deferrals and the unemployment benefits package. The same came as a countermeasure to curb the plummeting economy due to the tough Coronavirus times. Though Trump had distanced himself from the House proceedings, being represented by his chief of staff Mark Meadows and Treasury Secretary Steve Mnuchin, he acted to see to it that the unemployed Americans receive $400 weekly, $200 less than the original arrangements.
Trump’s move comes as a card to rescue his political position come the general elections. He has provided a package for the unemployed, given an incentive to the employed and a moratorium for student loans repayment, in addition to halting some sorts of evictions during the tough times. Trump hinted that the funds would be gathered from the leftovers of the amounts that were to be spent in the previous relief bills in addition to whatever states would decide to contribute.
Republicans and Democrats were at crossroads over the amount to cover the expenditure, one at $2 trillion while the others at $1 trillion, respectively. The president's aides reiterated of how important a deal is to salvage the economy. The jobs report as at 7thAugust depicted how the pandemic had adversely hit leading to the closure of states that had otherwise reopened. They acknowledged the fact that what was being offered wasn’t enough but would be necessary to cushion the basic needs of Americans. The tax relief, according to Trump, is to run through to the end of the year.
Trump stated that he would even extend the incentives or terminate them if he is voted back. Democratic Sen. Ron Wyden claimed that Trump’s incentives were fake and there would be reckoning for the people as they will be required to repay the same in the future. Democratic leader Chuck Schumer stated that the Republicans should make an effort in the negotiations and come to an agreement with them. The stalemate is a major blow for the schools who were counting on the funds to be able to plan for reopening. Democratic House Speaker Nancy Pelosi and Schumer have remained persistent on having a big package to help deal with the surging coronavirus cases and deaths.
