Trump wants payroll tax relief to calm virus-spooked markets - News Summed Up

Trump wants payroll tax relief to calm virus-spooked markets


President Donald Trump and Vice President Mike Pence in the briefing room of the White House in Washington, Monday, March 9. US President Donald Trump said Monday his administration will ask Congress to pass payroll tax relief and other quick measures as a public health and economic maelstrom brought on by the coronavirus drew closer to him personally. Intending to calm the fears of financial markets over the impact of the epidemic, Trump told reporters he is seeking “very substantial relief” to the payroll tax. Trump said he would hold a press conference Tuesday to outline the proposals, saying his administration and Congress would be “discussing a possible payroll tax cut or relief, substantial relief, very substantial relief, that’s big, that’s a big number. Vice President Mike Pence, who also spoke at CPAC, said he has not been tested for the virus.


Source: The Standard March 10, 2020 01:52 UTC



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