Trump "Pursuing Payroll Tax Deferral and Unemployment Benefits Extension Independently"

President Donald Trump of the United States (Photo by Yonhap News)

[Asia Economy Reporter Moon Jiwon] On the 7th (local time), U.S. President Donald Trump stated that if an agreement with the Democratic Party is not reached regarding additional economic stimulus measures due to the novel coronavirus infection (COVID-19), he will independently pursue payroll tax deferral and unemployment benefit extensions.

President Trump held a press conference at his private resort in Bedminster, New Jersey, and emphasized, "If the Democrats continue to hold this important relief package hostage, I will provide the relief that the American people need under my presidential authority."

He said he would sign an executive order by the weekend that includes payroll tax deferral, additional unemployment benefit extensions, student loan relief, and a halt to tenant evictions.

However, local media reported that it is unclear whether the "weekend" mentioned by President Trump refers to this week or next week.

Additionally, President Trump said he plans to prepare an executive order in the coming weeks that will require insurance companies to cover treatment costs for patients with underlying conditions.

This statement contradicts the previous policy direction of the Trump administration, which sought to repeal the Affordable Care Act (ACA, also known as Obamacare) enacted by former President Barack Obama.

Obamacare explicitly prohibits denying coverage to patients with underlying conditions, but President Trump has shown a negative stance toward this aspect of Obamacare.

President Trump also blamed the failure to reach an agreement on the economic stimulus package on Democratic leaders Speaker of the House Nancy Pelosi and Senate Minority Leader Chuck Schumer.

Bloomberg News pointed out that President Trump's remarks may signal the possibility that negotiations for an additional economic stimulus package could fail to reach a conclusion.