President Trump on Monday evening said he will speak with Senate Majority Leader Mitch McConnell (R-Ky.) and Senate Republicans about a possible payroll tax cut that would provide "very substantial relief" amid the COVID-19 coronavirus epidemic.
"We have a great economy, a very strong economy, but this has blindsided the world," Trump said. The coronavirus epidemic, as well as Saudi Arabia cutting oil export prices by nearly 10 percent, is worrying investors, and on Monday, U.S. stocks fell more than 7 percent in the Dow's worst day since 2008. Trump said he wants to meet with McConnell on Tuesday, and in addition to discussing a payroll tax cut, he will also bring up "hourly wage earners getting help so they can be in a position where they are not ever going to miss a paycheck."
Trump said the COVID-19 epidemic is "not our country's fault, this is something we've been throw into," and the government is working with the airline, cruise, and travel industries as they will feel the effects of people staying home. "The main thing is we are taking care of the American public," he said.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Fannie Flagg’s 6 favorite books that sparked her imaginationFeature The author recommends works by Johanna Spyri, John Steinbeck, and more
-
Google: A monopoly past its prime?Feature Google’s antitrust case ends with a slap on the wrist as courts struggle to keep up with the tech industry’s rapid changes
-
Patrick Hemingway: The Hemingway son who tended to his father’s legacyFeature He was comfortable in the shadow of his famous father, Ernest Hemingway
-
House posts lewd Epstein note attributed to TrumpSpeed Read The estate of Jeffrey Epstein turned over the infamous 2003 birthday note from President Donald Trump
-
Supreme Court allows 'roving' race-tied ICE raidsSpeed Read The court paused a federal judge's order barring agents from detaining suspected undocumented immigrants in LA based on race
-
South Korea to fetch workers detained in Georgia raidSpeed Read More than 300 South Korean workers detained in an immigration raid at a Hyundai plant will be released
-
DC sues Trump to end Guard 'occupation'Speed Read D.C. Attorney General Brian Schwalb argues that the unsolicited military presence violates the law
-
RFK Jr. faces bipartisan heat in Senate hearingSpeed Read The health secretary defended his leadership amid CDC turmoil and deflected questions about the restricted availability of vaccines
-
White House defends boat strike as legal doubts mountSpeed Read Experts say there was no legal justification for killing 11 alleged drug-traffickers
-
Epstein accusers urge full file release, hint at own listspeed read A rally was organized by Reps. Ro Khanna and Thomas Massie, who are hoping to force a vote on their Epstein Files Transparency Act
-
Court hands Harvard a win in Trump funding battleSpeed Read The Trump administration was ordered to restore Harvard's $2 billion in research grants
