After weeks of stalled negotiations in Congress, President Donald Trump took it upon himself to issue a series of presidential executive orders, or memorandums, designed to reinvigorate the U.S. economy.

One of those executive measures, called the "Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster," includes a directive to suspend certain payroll taxes for American workers earning less than $4,000 on a pretax biweekly basis, or about $104,000 annually.

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