Donald Trump unveiled four executive actions meant to bolster the economy on Saturday after Congress failed to reach an agreement on a new coronavirus stimulus package.
Trump praised himself for stepping up with the actions, saying that they will “take care, pretty much, of this entire situation”, but the reality is – of course – more complicated. Here is what you need to know about Trump’s stimulus executive actions.
What are Trump’s executive actions?
Trump unveiled issued executive actions, including three memorandums and one executive order, meant to assist Americans affected by the economic downturn.
One memorandum halts federal tax collection for anyone whose bi-weekly pre-tax paychecks are below $4,000. A second memorandum boosts unemployment insurance by $400 a week, though cash-strapped state governments are expected to foot a fourth of the bill. The last memorandum defers the collection of student loan payments and waives interest fees on student loans until…