Donald Trump Signs Executive Orders on Student Loans, Unemployment, Payroll Tax Cuts After Negotiations Fail
08/08/2020 06:23 pm EDT
Unemployment Payment
Several additional caveats join the extra $400 benefit covered in the first executive order for the state's responses and allocation of funds. What is sort of hidden within, though, is the federal government will pay 75% or $300 of the unemployment benefit, while the rest is to be covered by the states.
"In exercising this authority, the Secretary, acting through the FEMA Administrator, shall, subject to the limitations above, approve a lost wages assistance program that authorizes the Governor to provide a $400 payment per week, which shall reflect a $300 Federal contribution, to eligible claimants from the week of unemployment ending August 1, 2020," the order reads.
Payroll Tax
The order concerning the payroll tax includes some jabs at China and their role in the coronavirus spread, using it to make an emergency declaration in response. Once that is out of the way, the order states the payroll holiday will begin September 1, 2020, and stay through December 31, 2020.
"The deferral shall be made available with respect to any employee the amount of whose wages or compensation, as applicable, payable during any bi-weekly pay period generally is less than $4,000, calculated on a pre-tax basis, or the equivalent amount with respect to other pay periods."
Eviction Protections
The expiration of the moratorium on evictions hit many people hard and Trump's third order claims to take care of that. It claims to extend the temporary halt, relieve financial burdens on renters and homeowners.
"With the failure of the Congress to act, my Administration must do all that it can to help vulnerable populations stay in their homes in the midst of this pandemic. Those who are dislocated from their homes may be unable to shelter in place and may have more difficulty maintaining a routine of social distancing. They will have to find alternative living arrangements, which may include a homeless shelter or a crowded family home and may also require traveling to other States.
"In addition, evictions tend to disproportionately affect minorities, particularly African Americans and Latinos. Unlike the Congress, I cannot sit idly and refuse to assist vulnerable Americans in need. Under my Administration, minorities achieved the lowest unemployment rates on record, and we will not let COVID-19 erase these gains by causing short-term dislocations that could well have long-term consequences," the order reads.
Student Loans
Trump is also extending the waiver for student loan interest for federal borrowers. The executive order claims to cover the loans through the end of the year and will still allow those who want to make payments free to do so.
"In light of the national emergency declared on March 13, 2020, the Secretary of Education shall take action pursuant to applicable law to effectuate appropriate waivers of and modifications to the requirements and conditions of economic hardship deferments described in section 455(f)(2)(D) of the Higher Education Act of 1965, as amended, 20 U.S.C. 1087e(f)(2)(D), and provide such deferments to borrowers as necessary to continue the temporary cessation of payments and the waiver of all interest on student loans held by the Department of Education until December 31, 2020," the order states.
Falsehoods
Throughout his press conference, Trump blatantly shared many falsehoods in between propping up the job he has done as president. This did not include any mention of the coronavirus death toll, the rising numbers across the United States, any plan for those returning to work or returning to schools and his decision to not mandate masks despite evidence and urging from experts.
He blamed China for spreading the virus, even seemingly insinuating that it was spread intentionally. This was echoed in the official language in the executive orders as well.
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