Reproduced from Institute of Taxation and Economic Policy; Chart: Axios Visuals

A proposal to suspend Social Security and Medicare payroll taxes for employees and employers through the end of the year is a "very high priority" in any new stimulus deal, White House chief of staff Mark Meadows said Wednesday.

Yes, but: Economists largely agree it would do little to help the economy.

What they're saying: "The White House’s latest economic policy trial balloon leaves out the most important solutions and floats some policies that are diametrically opposed to what the country needs," Amy Hanauer, executive director of the Institute on Taxation and Economic Policy, said in a recent analysis.

  • "The proposal re-ups tax breaks for the wealthy and fails to laser focus on vulnerable families that need the most help."
  • "A payroll tax cut does more for those who are paid (and paid more) than for those who’ve lost jobs in this downturn. It would likely send at least two-thirds of benefits to the richest fifth of Americans and about a quarter to the top 1 percent."

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Dan Primack, author of Pro Rata
Updated Oct 15, 2020 - Economy & Business

McConnell says he will not put $1.8 trillion stimulus bill on Senate floor

Illustration: Aïda Amer/Axios

The stimulus negotiations are beginning to remind me of running on a treadmill — lots of effort, no forward motion.

Driving the news: Senate Majority Leader Mitch McConnell (R-Ky.) said Thursday that he would not put a potential $1.8 trillion+ deal struck by Democrats and the Trump administration on the Senate floor. "My members think half a trillion dollars, highly targeted is the best way to go," he said.

Oct 14, 2020 - Podcasts

House Majority Leader Steny Hoyer on the stalled stimulus

Earlier today, House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin spoke yet again about the stalled federal stimulus plan, but don't appear too much closer on a deal to help American families or businesses.

Axios Re:Cap goes deeper with House Majority Leader Steny Hoyer (D-Md.), who talks about remaining obstacles, the White House, and why Democrats oppose stand-alone bills for consensus items like airline payroll support and small business loans.

Updated 40 mins ago - Politics & Policy

Supreme Court blocks Alabama curbside voting measure

Photo: Mark Wilson/Getty Images

The Supreme Court on Wednesday evening blocked a lower court order that would have allowed voters to cast ballots curbside at Alabama polling places on Election Day.

Whit it matters: With less than two weeks until Election Day, the justices voted 5-3 to reinstate the curbside voting ban and overturn a lower court judge's ruling designed to protect people with disabilities during the coronavirus pandemic.