Trump pushes payroll tax cut, assistance for hourly workers in coronavirus economic response

[enhanced_deficit]

Small gov purists may frown upon idea of free money for hourly workers relief but Trump, Mitch, Pelosi might get it done if all leafership came together :

Update:

Trump Is a No-Show After Promising Briefing on Economic Plan

By Justin Sink and Ryan Beene
March 10, 2020, 6:26 PM EDT

President Donald Trump didn’t appear at a White House briefing on the coronavirus outbreak on Tuesday, after promising a day earlier he’d hold a news conference to announce a “major” economic stimulus package.
After deciding to pursue an economic stimulus plan following the steepest drop by the benchmark S&P 500 index since 2011, Trump told reporters at a briefing on Monday: “I will be here tomorrow afternoon to let you know about some of the economic steps we’re taking, which will be major,” he said.
https://www.bloomberg.com/news/arti...how-after-promising-briefing-on-economic-plan



White House plan for economic response to coronavirus is ‘not there right now,’ officials say
Published Tue, Mar 10 20208:04 AM EDT
Key Points

• The White House is far from ready to roll out specific economic proposals in its response to the widening impact of the coronavirus outbreak, administration officials said.
• The revelation comes as U.S. stock futures pointed toward a rebound following President Trump’s suggestion that a payroll tax cut and other stimulus measures may be in the works.
• However, inside the administration, some officials were stunned by Trump’s claim that he would hold a press conference Tuesday to announce an economic plan as the actual details remain up in the air.

Trump pushes payroll tax cut and assistance for hourly workers in coronavirus economic response

By Kevin Liptak, Kaitlan Collins and Jeremy Diamond, CNN
Updated 9:18 PM ET, Mon March 9, 2020

Washington (CNN)President Donald Trump said Monday he would press lawmakers to enact a payroll tax cut and ensure assistance is available to hourly workers amid a roiling coronavirus pandemic that's caused deep economic concerns and stock market shock.

Trump said he'd reveal further details of the "very dramatic" steps during a Tuesday afternoon news conference. As the virus spreads, the President has eyed the plummeting stock market as boding poorly for his political prospects.

Trump was speaking at a White House briefing following a huddle with aides to weigh options for an economic stimulus meant to blunt the economic fallout of coronavirus after stocks plunged and concerns continued to grow over the administration's handling of the crisis.

Trump spoke very briefly and did not take questions, leaving it to other officials to speak about the response to the outbreak.
"We are going to be asking tomorrow, we're seeing the Senate. We're going to be meeting with House Republicans, Mitch McConnell, everybody discussing a possible payroll tax cut or relief, substantial relief," Trump said, surrounded by officials he'd tasked to respond to the issue.
"We're also going to be talking about hourly wage earners getting help so that they can be in a position where they're not going to ever miss a paycheck," he added.

https://www.cnn.com/2020/03/09/poli...nomic-response-markets-coronavirus/index.html

 

[r3volution 3.0]

Everybody loves tax cuts, and the deficits that they cause can still be financed by the Fed, so this is a nutless political decision.

Wake me up when someone, other than Rand Paul, starts talking about cutting spending, which no one likes.

 

[enhanced_deficit]

Italy is offering different type of relief:


Tue, Mar 10 2020

Payments on mortgages to be suspended across Italy after coronavirus outbreak

Payments on mortgages will be suspended across the whole of Italy after the coronavirus outbreak, Italy’s deputy economy minister said on Tuesday.
“Yes, that will be the case, for individuals and households,” Laura Castelli said in an interview with Radio Anch’io, when asked about the possibility.
Italy’s banking lobby ABI said on Monday lenders representing 90% of total banking assets would offer debt moratoriums to small firms and households grappling with the economic fallout from Italy’s coronavirus outbreak. —Reuters

 

[devil21]

Hints of a taxpayer funded bailout for the cruise ship industry

But yeah let's be careful that we don't become socialists by electing Bernie!

What a joke this whole thing is.

 

[AngryCanadian]

Hints of a taxpayer funded bailout for the cruise ship industry

But yeah let's be careful that we don't become socialists by electing Bernie!

What a joke this whole thing is.

Either Biden or Bernie leftists foolish think that they will really save the planet by just imposing new taxes like Carbon or a different, or that somehow banning assault rifles would be a solution while they are using children like a scapegoat.