The Trump administration is attempting to garner congressional support for a stimulus package in the range of $850 billion to ease the possibility of a recession as the fallout from the coronavirus pandemic continues. (The Hill)
The development was first reported by The Washington Post.
The senior administration official stressed that the proposal is a tax proposal, not a spending stimulus as Senate Minority Leader Charles Schumer (D-N.Y.) is proposing. The Post reported that the stimulus package could include a payroll tax cut and is expected to include about $50 billion to help the airline industry specifically.
President Trump has been pushing for a payroll tax cut as a means of helping those feeling economic impacts of the virus. The president also told reporters at a briefing Monday that his administration would “back the airlines 100 percent” and said officials would “very strongly” consider the request for $50 billion in assistance made by the industry.
Treasury Secretary Steven Mnuchin is expected to outline the package to Senate Republicans on Tuesday.
The announcement comes as conditions further deteriorate in Europe, especially Italy, and restrictions on everyday activities get more severe in the United States.
As of last night, seven million people in the San Francisco Bay Area were ordered to shelter at their homes and the State of Ohio delayed its presidential primary hours before the polls opened.
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I am of the mind that the Media and the Liberals should pay for the majority of this Rescue Plan, since it is their continuing misrepresentations and mis-truth are at the root of the whole problem anyway.
I absolutely agree!!!
For sure.
Halt the market for three weeks until virus threat passes its peak and starts to recede, then reopen trading. Want to put folks spending. Issue the a thousand dollar credit card so they can buy , gas, groceries, medicine, etc.
Yes and get the $1000 plus unemployment benefits. I have paid into the system since I was 12 so 50 years. That way virus hopefully dissipates or almost gone. ?
The biggest problem here is the FEAR that is being created by the NEWS MEDIA causing the people to panic and do things that will only cause more damage that the actual virus itself.
NEWS FLASH: Life is cancelled due too mass hysteria caused by the media and governments(NWO) to bring on the New World Order and to take man kinds right away and make us all cattle to be herded into camps. That’s what’s coming folks. WAKE UP and get right with God.
There is always a bail out for the big boys.
What is a payroll tax cut going to do for employees when the small business can no longer afford their payroll?
The businesses are getting the same cut as the employees as their portion of the payroll tax is halted as well.
BS: Doesn’t your state have unemployment insurance. These people are laid off and that is what it is, technically a lay off and if their unemployment runs out than help them. The state is responsible for unemployment. Plants run lay off cycles all the time and employees collect state unemployment. I don’t know why the federal gov’t doesn’t know this. Businesses pay into the state’s unemployment for times like bad times for a business.
Shut down the media and only give updates by Pence and his staff to prevent false panic striking liberal media coverage. Shut down trading for three weeks and get people tested. The media is creating the problem being 100% politically driven.
shoot any communist still in Amerika. Restore the republic, enforce laws EQUALLY ! a double standard is no standard at all
The first strain of the Corona virus was discovered in the early 1960’s. Now I’ve heard the first case of corona-19 was identified in Red China late last November and announced to the world at the end of December. Today, March 17th, it has been announced that most of the restrictions on travel and contact there are being lifted due to the virus dying out. There were not millions of deaths there, but our officials are saying right now that as many as 2.2 million Americans could die of corona-19. I seriously doubt it. It’s an election year and like no other election year in the past There is a battle for the very survival of our freedom as a sovereign nation reaching it’s climax. We were supposed to become nothing more than a member state in a global oligarchy several years ago that was delayed by President Reagan’s surprise election and again with Trump’s election. The New World Order has tried to use various scare tactics to trick the public into accepting total government control with the latest climate change scam failing. what better new scam than blowing up a virus outbreak into a propaganda effort of apocalyptic proportions to cause a panicked call for government to “save us”?
George Bush during his administration said that Up to 2 million people could die from the bird flu here in the US. Not one death was reported. Yes – this is serious, like any virus can be serious. But having the media frighten the hell out of everyone is downright irresponsible. Take common sense precautions. Shut off the TV and put down your phones. Read a good book. This too shall pass.
Absolutely 100% on target! The sad thing is there are enough gullible fools in our once great country who totally overreact at any provocation, regardless of its seriousness. This virus, while truly needing adult behavior to get its spread under control, has been driven out of proportion by self-seeking pols and their enabling media. Allow our POTUS and his team to do what is needed, and do the sensible things to keep you and your family safe.
no family in Amerika has been safe since before the 1860’s. wise up
Don’ the states have unemployment insurance like NY State that when employees are laid off which is just what this is, can collect. If that runs out due to the virus than the federal or the state gov’t should or can step in. That’s the whole idea behind unemployment insurance and why businesses pay into it so when they have to lay off employees the employees can collect a payment meant to hold them over until they get a new job or they get called back to their job. Many businesses run a regular up and down cycle due to the inventory they are holding and the orders for the inventory coming in are down and employees get laid off, go on unemployment insurance and usually get called back to work when orders start coming in again. Even small businesses pay into this insurance.
when the gov’t. screws up, who pays their fines? The same suckers the gov’t. public servants take an oath to. This is the epitome of socialism. Someone needs to tell Donald Trump. Amerika has been socialist since April 9 1865.
only in an emergency, does the Den of Corruption and local gov’t. admit they are stealing more than they need from the slaves and cowards. Who takes an oath to whom ? Who is the employee (servant)? Who is the employer (taxpayer)? Who is working for who? public servant or self servant?
Less government allows creation and competition FREEDOM works most of us will not go easily and we aint afraid of dying. They are afraid of red hats people lol so i am positive we the people will always win. God Bless America