Washington High-ranking representatives of the US government are thinking according to a media report about a temporary reduction of the payroll tax to the stimulation of the economy. The deliberations are, however, only at an early stage, reports the Washington Post, citing three persons familiar with the matter. Background of the considerations is the impending economic downturn in the face of the US-China trade dispute. At the beginning of August, US President Donald Trump tightened the tariff dispute and announced that he would levy a 10 percent special tariff on imports from China in the amount of $ 300 billion.
Millions of US citizens pay a 6.2 percent wage tax to fund the health and social security system. Details on the extent of a possible reduction in the tax were initially not available in the media report. The US government did not comment on the report.
More: Speculation on government measures against a weakening economy on Monday drove the prices on the US stock exchanges. The individual values particularly required chip manufacturers.
. (dayToTranslate) United States (t) Payroll (t) Economy (t) Donald Trump (t) US President (t) Trade Conflict (t) China (t) Taxes (t) Protectionism (t) Washington Post