In an effort to hold off an economic crisis in the middle of the coronavirus pandemic, President Donald Trump signed a series of new executive orders over the weekend — including one that would reportedly provide around $1,200 of support to American workers over the next four months.
“I think it’s going to be in a couple of weeks, and I think it’s going to come to about $1,200 per person,” Trump economic adviser Larry Kudlow told CNN, according to Fox Business.
The order defers payroll tax through the end of the year. According to Kudlow, the number of people reaping those benefits is around “140-some-odd million.”
According to Fox Business, Kudlow told CNN:
With respect to the payroll tax, basically we’re giving 140-some-odd million people who worked through this pandemic, they’re heroes, we’re giving them about a $1,200 wage increase after tax.
Kudlow also said he expects states to “be able to provide the extra $100” in unemployment benefits under another order signed by Trump. “We’ll probably find that out today or tomorrow as we make our canvas,” he said, according to Fox Business. “We’ve been in touch with them. We have very good records coming out of the Treasury Department.”
To read the full story about Trump’s executive order and what it could mean for you, click here.