Taxes

Treasury Secretary Steve Mnuchin said individuals who owe a payment to the IRS can defer up to $1 million. Corporations will be allowed to defer, penalty-free, for 90 days.

Side gigs also offer tax advantages, including more ways to save for retirement and the ability to deduct legitimate business expenses.

Critics have questioned whether a payroll tax holiday would be enough to boost the economy, as American life comes to a grinding halt.

Trump pitched temporarily eliminating the payroll tax earlier this week to insulate the economy from the coronavirus

Trump wants Congress to let people keep all the money they earned until the end of the year.

Biden’s tax plan would raise individual income taxes by about $109 billion in 10 years, while Sanders' would raise $3.2 trillion.