President Trump’s declaration of emergency is the catalyst for 3 month delay.
To individuals who owe less than $1 million and corporations who owe less than $10 million, the income tax deadline has been delayed from April 15 to July 15. The delay was announced by Treasury Secretary Steven Mnuchin in a tweet on Friday. Mnuchin expects that the delay would potentially allow $300 billion to remain in the economy during a critically low point for the U.S. economy.
During that 3 month period, the Trump administration will be working with Congress to polish a $1 billion dollar support package to aid the economy during the current coronavirus downturn.
As the Lord Leads, Pray with Us…
- That Secretary Steven Mnuchin would be granted the resources to shepherd the suffering U.S. economy.
- That the Lord would guide President Trump and his administration.
- For supernatural resilience for the United States Department of Treasury.
Sources: AP
