Trump pledged to permanently scrap the payroll taxes used to fund Social Security and Medicare if he wins re-election

JIM WATSON / AFP

• President Donald Trump vowed on Saturday to scrap the payroll tax, a funding mechanism for Social Security and Medicare, if he wins re-election.
• "If I'm victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax," Trump said at a press conference announcing executive actions on coronavirus relief.
• Experts say the move to cut payroll taxes would further erode the shaky finances of both programs.
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President Donald Trump pledged on Saturday to scrap the payroll tax, a key mechanism that's used to fund Social Security and Medicare.

"If I'm victorious on November 3rd, I plan to forgive these taxes and make permanent cuts to the payroll tax," Trump said at a press conference. "I'm going to make them all permanent."

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See Also:

• How $600 unemployment benefits to jobless people helped rescue the American economy
• Trump implementing a payroll tax cut through executive order would blow a hole in Social Security and Medicare's finances, economists warn
• Mitch McConnell just opened the door for an extension of the $600 unemployment boost — if Trump supports it

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