U.S. 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 coronavirus pandemic that's caused deep economic concern and took the stock market on a sharp plunge the last few days.
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.
While some Congress representatives have publicly floated ideas to spur the U.S. economy and help affected industries, before Monday the President had not yet endorsed any specific action and officials have offered differing views of how sweeping a stimulus plan could be.
Some ideas include steps to defer taxes on the airline, cruise and hospitality industries, all battered by the virus. The White House has also weighed an expansion of paid sick leave — a major focus for some White House officials, who fear the virus could spread further if service workers go to work sick
