US Politics in Trump era
Trump confirms he’s considering a payroll tax cut amid mounting economic concerns
President Trump on Tuesday confirmed that he is considering whether to push for a temporary payroll tax cut amid mounting concerns about an economic slowdown. Trump’s comments pulled back the curtain on a freewheeling policy process within the White House. Senior administration officials are both trying to assess the real weaknesses in the economy while also determining whether they should take any steps to intervene before the 2020 elections.
Treasury could breach debt ceiling in first half of September, much sooner than previously thought
The U.S. government could run out of money to pay all of its bills by early September if Congress doesn’t rush to raise the debt ceiling, a think tank said Monday, a time frame that could force lawmakers to act much sooner than planned. The Bipartisan Policy Center said that the Treasury Department could breach the borrowing limit in two months because the government has brought in far less tax revenue this year than was projected.
Trump calls on Congress to pull back $15 billion in spending, including on Children’s Health Insurance Program
“Let’s be honest about what this is: President Trump and Republicans in Congress are looking to tear apart the bipartisan [CHIP], hurting middle-class families and low-income children, to appease the most conservative special interests and feel better about blowing up the deficit to give the wealthiest few and biggest corporations huge tax breaks,” Senate Minority Leader Charles E. Schumer (D-N.Y.) said Monday.