Trump To Discuss Payroll Tax Cut
President Donald Trump announced that the White House will discuss with both houses of the Congress if it is possible to cut payroll taxes to support the economy that is badly hit by the coronavirus outbreak.
“We’ll be discussing a possible payroll tax cut or relief, substantial relief, very substantial relief, that’s a big number,” Trump said at a White House briefing on Monday, accompanied by Vice President Mike Pence and Members of the White House Coronavirus Task Force.
The President said that he is going to meet with House Republicans and members of the Senate Tuesday asking for relief for hourly workers to combat the economic fallout of the coronavirus.
Trump is expected to announce economic relief for working Americans after that.
“So I will be here tomorrow afternoon to let you know about some of the economic steps we’re taking, which will be major,” Trump told reporters.
“We’re going to be working with companies and small companies, large companies — a lot of companies — so that they don’t get penalized for something that’s not their fault,” he added.
He said his administration is also going to meet with Small Business Administration and creating loans for small businesses.
The Government is also working with various industries, including the airline industry, the cruise ship industry, and the hotel industry, which are seriously affected by the global COVID-19 outbreak.
Vice President Mike Pence, who is in charge of co-ordinating the White House efforts to fight the ongoing coronavirus outbreak in the United States, said he briefed the President after chairing a meeting of the White House Coronavirus Task Force. According to him, the risk of contracting the coronavirus to the American public remains low.
Pharmaceutical companies are working on the development of coronavirus therapeutics. Companies like LabCorp and Quest have already brought a test forward and are taking that to market. In a conference call with 47 U.S. governors, it was confirmed that testing is now available in all state labs in the country.
Pence said the President has tasked his economic team, and is working already with leaders in the Congress, to make sure that no one feels that they’re at risk of losing their job or losing a paycheck because they may contract the coronavirus.
Meanwhile, Dr. Deborah Leah Birx, who is the coronavirus response coordinator in the White House, published community guidance about how to keep homes, businesses and schools safe and healthy.
Source: Read Full Article