Former vice president joe BidenJoe BidenBiden says Trump’s executive order is ‘a reckless war on Social Security’ Trump exchanged challenges with top GOP sponsor Adelson: Blumenthal report calls for decryption of documents stating details details Russia’s threat to the US election MORE on Saturday called President TrumpDonald John TrumpDeWine tested negative for second coronavirus Some GOP lawmakers expressed concern about Trump’s executive order Beirut’s consequences set tests for US aid against allies frustrating MOREThe executive order cuts the payroll tax “a risky battle on Social Security.”
One of the orders Trump has signed from his private club in Bedminster, NJ, Saturday afternoon direction The Treasury Department allows employers to postpone payment of the employee’s Social Security payroll tax until the end of the year for Americans who make about $ 100,000 less annually.
Trump also said that he intends to forgive deferred pay taxes and implement a permanent payroll tax cut if he is re-elected in November.
In an emailed statement mentioning the presidential order, Biden said such a move would “undermining the entire financial foundation of Social Security. “
The alleged Democrat candidate says that unlike the 2012 payroll tax plan introduced by the Obama administration, Trump’s executive order does not appear to include “safeguards or guarantees that the Fund The Social Security Trust will be implemented in its entirety. ”
“He’s working out a roadmap to cut Social Security,” Biden said. “Our seniors and millions of Americans with disabilities would have suffered enough stress if Trump did not doubt their hard-to-earn Social Security benefits.”
Each employee and employer must pay a Social Security pay tax of 6.2 percent of wages and a Medicare pay tax of 1.45 percent of wages. One of Biden’s tax proposals would increase payroll tax rates for people making more than $ 400,000.
It is not yet clear whether Trump has the legal authority to suspend the payroll tax by law action, and the president said during Saturday’s Q&A with reporters that he was expecting a lawsuit to challenge. awake your moves.
Congressional Democrats also oppose the order, with Chairman House Ways and Means Richard NealRichard Edmund NealBiden says Trump’s executive order is ‘a reckless fight on Social Security’ Conservatives urge Trump to take unilateral action to suspend Treasury payroll tax collection to conduct review policy on tax exemptions for universities after Trump tweeted MORE (D-Mass.) Call it “a poorly disguised first step in the attempt to completely dismantle these important programs with executive fiat”.