Trump wants payroll tax relief to calm financial markets

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Trump wants payroll tax relief to calm financial markets
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President Trump says his administration will ask Congress for a 'very substantial' payroll tax cut, as he looks to calm financial markets amid the coronavirus epidemic.

President Donald Trump steps from the podium to allow Vice President Mike Pence to speak in the briefing room of the White House in Washington, Monday, March, 9, 2020, about the coronavirus outbreak. President Donald Trump said Monday his administration will ask Congress to pass payroll tax relief, as he looks to calm financial markets’ fears over the impact of the coronavirus epidemic.

Trump was set to hold a press briefing Monday at 6:30 p.m. after meeting economic advisers on potential plans for an economic stimulus. “At this moment there are 546 confirmed cases of CoronaVirus, with 22 deaths,” Trump tweeted, comparing it to seasonal influenza and the thousands of deaths that causes. “Think about that!”

On Capitol Hill, where many lawmakers are older and have frequent contact with the public, leaders were fielding questions from members and staff about how the complex will be secured. Leaders have so far shown little willingness to close the Capitol, but meetings were scheduled throughout the day to discuss preparations.

Sen. Ted Cruz, R-Texas, and Rep. Paul Gosar, R-Ariz., also placed themselves in quarantine after coming in contact with the same person at the conservative conference. The chairman of the Democratic caucus, Rep. Hakeem Jeffries, said the House’s chief administrative officer and the sergeant at arms are expected to brief Democrats at their regular caucus meeting Tuesday. The discussion was expected to address whether the Capitol will be restricted to visitors, he said.

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