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Trump Administration Considering U.S. Payroll Tax Cut and Tax Deferral as Part of Economic Stimulus Plan to Counter Coronavirus Outbreak

11 March 2020

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Proposed Changes

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United States

U.S. President Donald Trump reportedly met with Republican lawmakers on 10 March 2020 to discuss an economic stimulus plan to counter the negative impact of the coronavirus outbreak. Tax measures being considered as part of the plan include a temporary 0% payroll tax rate for both employers and employees that could be provided until the end of 2020, as well as a tax deferral for particularly distressed industries/sectors, among other measures. No final decisions have been made on what the economic stimulus will include, but it is expected that the plan will be finalized in the near future. Further details...