A payroll tax deferral would allow employers to defer collecting the employee portion of the payroll tax, including the 6.2% Social Security tax on wages, effective Aug. 1 through the end of the year. Trump directed the Treasury and Housing and Urban Development departments to find funds to help people struggling to pay their rent. Trump issued the orders after congressional talks broke down. Both the White House and congressional Democrats indicated Sunday they wanted to resume negotiations, but no talks were scheduled. With the Nov. 3 election approaching, the White House is nervously watching signs that the economic recovery is slowing down as the coronavirus surges.

Source: Daily Sun August 10, 2020 05:37 UTC