Trump Executive Actions Won’t Actually Do Anything To Help Struggling Americans
August 10, 2020
Trump tried to take a victory lap after giving up on negotiations and signing legally dubious executive actions, but they will do little to boost the economy or provide any actual relief to workers and small businesses already struggling because of his failed coronavirus response.
TRUMP’S ACTIONS DON’T HELP SMALL BUSINESSES: Trump’s executive actions provide no direct aid to struggling businesses.
New York Times: “But the patchwork of moves was less significant than what the president described in his news conference, and the plan appeared unlikely to have immediate, meaningful impact on the sputtering economy, in part because it provided no direct aid to struggling businesses.”
TRUMP’S ACTIONS COULD HURT SENIORS: Trump’s executive action could jeopardize Social Security and Medicare.
CNN: “President Donald Trump’s executive action deferring, and possibly forgiving, payroll taxes could leave Social Security and Medicare on even shakier ground… Trump signed an executive action Saturday deferring 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.”
TRUMP’S ACTIONS WON’T HELP WORKERS: Trump cut federal unemployment benefits in half, which workers won’t see any time soon, and even Trump’s own aides admit his actions would do little to help many struggling Americans.
New York Times: “But they are likely to do little to deliver cash any time soon to Americans hit hard by the recession.”
New York Times: “And as Mr. Trump’s own aides concede, the orders will not provide any aid to small businesses, state and local governments or low- and middle-income workers.”
USA Today: “It lowers the weekly bonus to $400 from the extra $600 that expired in late July, with states being asked to cover 25% of the costs. That means the federal government will provide $300 a week. And it could take months for states to implement.”
TRUMP’S ACTIONS DON’T STOP EVICTIONS: Trump’s executive action only directs agencies to “consider” stopping evictions and wouldn’t apply to the vast majority of renters—many of whom are at risk.
Politico: “Trump’s eviction ban would leave most tenants in peril”
Washington Post: “The plan related to housing only makes suggestions to federal agencies but does not halt evictions nationally.”
Bloomberg: “One-Third of American Renters Expected to Miss Their August Payment.”
TRUMP’S ACTIONS WON’T BOOST THE ECONOMY: Trump’s executive actions will have no meaningful impact on the economy or provide the second round of stimulus checks he promised.
New York Times: “A series of executive actions will provoke lawsuits but is unlikely to stoke faster growth in an economy that has cooled this summer.”
New York Daily News: “Trump signs executive order on coronavirus relief without $1,200 checks after rambling attack on Democrats.”
TRUMP’S ACTIONS PROVIDE NO AID TO STATES: Trump didn’t provide any aid to state and local governments, which could result in more layoffs and states choosing not to provide enhanced unemployment.
New York Times: “The orders will not provide aid to states and local governments, whose tax revenues have plunged as a direct result of the contraction in economic activity brought on by the virus. Without more money from the federal government, states and local governments will almost certainly have to cut their budgets and lay off workers, increasing the ranks of the unemployed.”
Washington Post: “But states would have to contribute $100 a week to each worker’s check, with the federal government putting up the rest. Beyond the legal questions surrounding the maneuver, many states are facing severe budget deficits as they fight the coronavirus, and several economists and lawmakers said governors may be unlikely to sign onto the program.”