4 Takeaways from Trump’s Executive Actions on Coronavirus Aid

Coronavirus has dominated headlines since early February, destroying businesses and workers along the way. With Federal Aid expiring on July 31, President Donald J. Trump signed four executive actions to help provide relief for businesses and individuals who've sustained damage. Here are 4 takeaways from Trump’s executive actions on coronavirus aid.

1. Extended Unemployment Benefits

President Trump has reached a middle ground with his order of $400 per week for those that are still unemployed due to the COVID-19 pandemic. He also plans on extending benefits into the new year for those affected. However, he has suggested that states will have to cover 25% of the proposed $400.

2. Payroll Tax "Holiday"

Another part of the Executive Order is the President’s take on payroll taxes: a Payroll Tax "Holiday". President Trump plans to defer the employee portion of payroll taxes, 6.2% for Social Security and 1.45% for Medicare, for workers making less than $100,000 a year through the rest of 2020.

3. Eviction Moratorium

30 - 40 million renters are at risk of eviction in the coming months, which is 10 times the amount of the normal 3 million evictions that are seen annually. President Trump has put an eviction moratorium in place to let renter’s breathe a sigh of relief during these tough times.

4. Student Loan Payments Deferred

President Trump has waived all student loan interest and payments until the new year. This deferment serves as a relief to individuals who carry student loan debt, especially when facing all of the challenges that have been brought along during the time of this coronavirus pandemic.