White House Drops Payroll Tax Cut As GOP Unveils Virus Aid
By LISA MASCARO and ANDREW TAYLOR
WASHINGTON (AP) — The White House has dropped a bid to cut Social Security payroll taxes as Republicans unveil a $1 trillion COVID-19 rescue package.
The tax cut had been opposed by top Senate GOP allies.
The legislation, set to be released Thursday morning by Senate Majority Leader Mitch McConnell, R-Ky., comes amid alarming developments on the virus crisis.
McConnell’s package is an opening GOP bid in talks with top Capitol Hill Democrats in a negotiation that could be rockier than talks in March that produced a $2 trillion rescue package.
GOP senators and President Donald Trump are at odds over priorities, and Democrats say it’s not enough to stem the health crisis, reopen schools and extend aid to jobless Americans.