Trump reportedly pitches 0 percent payroll tax rate to Senate Republicans

During his meeting with Senate Republicans on Tuesday, President Trump raised the idea of a 0 percent payroll tax rate for employees and employers that would last until the end of the year, a White House official told CNBC.

When asked how much this would cost, the White House official pushed back, and "asked why there is always a focus on the cost of tax cuts," CNBC reports.

On Monday, Trump announced during a briefing on the COVID-19 coronavirus epidemic that he would speak with Senate Majority Leader Mitch McConnell (R-Ky.) about a possible payroll tax break in order to provide Americans with "very substantial relief." Paid for by employers and employees, payroll taxes are used to fund Social Security and Medicare.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up

The coronavirus outbreak has caused the markets to slump, and the White House is attempting to cobble together an economic stimulus plan. If they do have a solid proposal, they aren't ready to share all the details; following the lunch meeting, Sen. John Thune (R-S.D.) said Trump's team "didn't go into specifics" about the payroll tax cut.