WASHINGTON, D.C. (NEXSTAR) – As the coronavirus spreads, it could keep workers at home under quarantine and cripple industries.
The White House is beginning to come up with a plan to keep the economy afloat and working to soften the economic blow from the coronavirus.
“We just had a meeting on stimulus, we’re looking at solving this problem,” President Trump said.
President Trump met with Senators and House Democratic leaders on plans for an expansive economic stimulus package.
On Monday, the president floated a payroll tax cut for employers, paid time off for workers who may be quarantined, and loans for small businesses.
But on Tuesday, he mentioned a few specifics.
“A lot of good things are going to happen. The consumer is ready. The consumer is so powerful in our country with what we’ve done,” Trump said.
The White House says it’s looking out for individual Americans.
It’s also looking to provide relief for whole industries.
Airlines, cruise ship companies, and hotels have all been hurt by the coronavirus.
“They’re great industries and we’ll be helping them through this patch,” Trump said.
“We’re going to do whatever we can to keep our economy moving,” White House Advisor Joe Grogan said.
White House Domestic Policy Advisor Joe Grogan says providing tax relief to struggling industries now could prevent long-term harm.
“We don’t want the economic damage to be bigger than it needs to be,” Grogan said.
“The administration seems to believe the answer to every problem is another tax cut,” Senator Chuck Schumer, D-New York, said.
But Senator Chuck Schumer says the Trump administration is too focused on the economic consequences, rather than the health risks.
“You must treat the disease, the coronavirus, not its symptoms which is the economy,” Schumer said.
Lawmakers need to work quickly to finish any deal before a scheduled recess starting on Friday.
