Trump discussed zeroing out payroll tax through election, a $950B break

President Trump discussed the possibility of zeroing out the payroll tax through the 2020 presidential election, as a response to the coronavirus outbreak in a meeting with Senate Republicans on Tuesday, three people with knowledge of the conversation said.

Suspending payroll taxes through the end of 2020 would be a massive tax cut amounting to approximately $950 billion, according to the Tax Foundation, a center-right think tank, about 26% of all federal government revenue for the year. In other words, it would be nearly as large, in inflation-adjusted terms, as spent over the course of a decade through the stimulus package that President Barack Obama signed into law in 2009.