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This is what Trump's recently signed COVID-19 executive order changed

President Trump has officially signed an executive order that extends economic relief after lawmakers failed to reach an agreement.

@Jak_ConnorTT
Published Mon, Aug 10 2020 9:44 AM CDT   |   Updated Mon, Oct 19 2020 8:20 PM CDT

Over the weekend, President Trump signed an executive order that extended economic relief for Americans after lawmakers couldn't reach an agreement on the coming stimulus package.

This is what Trump's recently signed COVID-19 executive order changed 12 | TweakTown.com

So, what did these new executive orders change? In a recent article from Forbes, it's explained that the new orders include an extension on the enhanced unemployment benefits through to the end of the year at a rate of $400 per week. Trump also signed in a Payroll Tax Holiday that will start on September 1st and go through until the end of the year. Additionally, Trump said that the holiday might be retroactive to August 1st.

So what is a Payroll Tax Holiday? American workers earning less than $100,000 a year will be eligible for the Payroll Tax Holiday, which reduces the amount of tax taken out of workers' paychecks to fund Social Security and Medicare. Tax cuts require Congressional approval, but Trump does have the option of using emergency powers to delay tax collection. The executive order also adds an extension to the Federal Eviction Moratorium, which expired last week.

Under the CARES Act, landlords and housing authorities were prevented from filing eviction notices, charging nonpayment fees, or giving notice to tenants for vacation. Trump didn't say how long the moratorium would last, but it could be assumed its duration will be until the end of the year.

Federal Student Loan Payment Suspension:

Lastly, Trumps executive order suspends student loan payments through until the end of the year, while also maintaining the zero-percent interest for federal student loans. For more information, check out this link here.

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NEWS SOURCE:forbes.com

Jak's love for technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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