Executive Stimulus Bill Signed: What's Included In The Order?

On Saturday afternoon, President Donald Trump signed an executive order to give COVID-19 related aid to the nation after negotiations stalled on Friday evening.

What Was Ordered: The aid cuts weekly unemployment aid to $400 per person, down from the $600 aid in the first-aid package. States would have to pay 25% of these costs.

The eviction moratorium was extended on all Federally Backed mortgages. Trump also extended the automatic forbearance for federal student loans under the CARES Act to run through the end of 2020, private student loans are not covered under this order.

Trump’s order also included a payroll tax cut for employers whose employees are making less than 100k a year.

Why the Executive Action: Saturday’s order comes after another week of bipartisan debate over what a second relief bill should include. Both Republicans and Democrats were looking to spend from 1-3.5 Trillion dollars on this second bill with aid going to a variety of areas including individuals, schools and state governments.

After no agreement was reached, President Trump hinted that executive action would be coming from him.

Interestingly, both Democrats and Republicans were against a Payroll tax, citing that this would do little to boost the economy.

What’s Next: Trump argued that money to cover this action could be diverted from other programs but also noted that his action will most likely involve a lawsuit. Telling reporters in his press conference Friday when discussing a possible executive action, “We’ll see, yeah, probably we’ll get sued.”

Congress controls spending and many lawmakers are still going to push for areas that they feel Trump didn’t address.

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