Business
President Trump’s Executive Orders A ‘Real Game-Changer’ For The Country
President Trump was busy over the weekend, signing four executive orders to provide the financial stimulus that America needs. Trump said the Democrats, including House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, held the “vital assistance hostage” as negotiations stalled.
“We’re doing that without the Democrats,” Trump said. “We should have been able to do it very easily with them, but they want all these additional things that have nothing to do with helping people.”
“Through these four actions, my administration will provide immediate relief to Americans struggling in this difficult time,” he said. “The beautiful thing about this difficult time is we’re coming back and setting records.”
Stephen Moore is a member of President Trump's economic recovery task force. He said the orders were “a real game-changer” for the president.
“All of a sudden Trump has flipped the table on Nancy Pelosi. Those negotiations were going nowhere.” said Moore, an economist at FreedomWorks, during an interview yesterday on “Fox & Friends Weekend.”
The Goals of Trump's Executive Orders
The executive orders by the President aim to help directly address the damage the coronavirus pandemic. It also aims to ensure that millions of Americans have the resources they need.
Among the executive orders signed by Trump were $400 per week in unemployment benefits. This will replace the $600 per week that expired at the end of July.
Moore said during his “Fox and Friends Weekend” interview that he isn’t a fan of extending the benefits, and believes “we should go back to the old unemployment insurance system.”
He did acknowledge, however, that “$400 is a lot better than $600.”
“We have a situation right now where about two out of three workers who are unemployed are getting paid more money than the people who are working,” Moore said on Sunday, following his article for Fox Business where has said he believes the extra unemployment benefits are “a disincentive to work, but provides an immediate safety net for the 25 million Americans who are still unemployed.”
In addition to the unemployment insurance benefits, Trump also signed measures to halt evictions. He also approved measures to eliminate the payroll tax through the end of the year and defer student loan payments.
The Potential of the Actions
“Through these four actions, my administration will provide immediate relief to Americans struggling in this difficult time,” he said. “The beautiful thing about this difficult time is we’re coming back and setting records.”
By eliminating the payroll tax, Moore says “every single worker in America,” including “the real heroes of this economy,” like the first responders and truckers, will get “a much deserved 7.5% pay raise starting immediately.”
“That is a very, very positive thing,” Moore then added.
White House economic adviser Larry Kudlow said the average person would save about $1,200 over four months beginning in September.
“With respect to the payroll tax, basically we're giving 140-some-odd million people who worked through this pandemic, they're heroes, we're giving them about a $1,200 wage increase after tax,” Kudlow said.
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