President Trump on Friday announced he would use an executive order to defer the payroll tax until the end of 2020, and it would likely be retroactive from July 1.
The president said the payroll tax break could be extended beyond 2020 and that he hopes he'll be in office "to do the job."
During the news conference, Trump also said he would extend unemployment benefits, defer student loan payments and interest, and extend the eviction moratorium.
"If Democrats continue to hold this critical relief hostage, I will act under my authority as president to get Americans the relief they need," Trump commented. "Tragically Nancy Pelosi and Chuck Schumer continue to insist on radical left-wing policies that have nothing to do with the China virus."
The president did not specify whether he would extend federal unemployment benefit checks at the full $600 a week. This particular relief packages ended on Friday.
According to President Trump, lawyers are currently drawing up the executive orders, which could be ready to sign by the end of the week.