Trump Pushes Payroll Tax Cut to Combat Coronavirus Economic Damage

Trump Pushes Payroll Tax Cut to Combat Coronavirus Economic Damage

President Donald Trump said Monday that he is seeking major policy changes that White House officials hope will arrest the widening economic disruption caused by the coronavirus outbreak by providing instantaneous federal aid to workers and business groups, Blufft On Today reported.

Trump said he will ask Congress to contemplate a payroll tax cut and supply relief to hourly workers suffering from the economic fallout the spread of the coronavirus. The market is showing a positive impact after posted their worst losses in more than a decade.

He also said he was seeking to produce help to the airline, hotel and cruise industries, which are all suffering as Americans speedily cancel travel plans.

“We are to be meeting with House Republicans, Mitch McConnell, and discussing a possible payroll tax cut or relief, substantial relief, very substantial relief. This was something that we were thrown into and we’re going to handle it, and we have been handling it.” Trump said at a press briefing at the White House alongside members of the coronavirus task force.

While some members of Congress have in public floated concepts to spur the American economy and facilitate affected industries, before Monday the President had not nevertheless supported any specific action and officials have offered differing views of however sweeping information set up could be, Wreg reported.

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