Donald Trump promised on Monday that on Tuesday his administration would roll out a plan to combat the economic effects of the coronavirus outbreak. That came as a surprise to the people who would have to come up with such a plan, CNBC reports.
Trump suggested in his Monday press conference that economic measures might include payroll tax cuts, support for hourly workers who are losing income, and help to industries affected by the outbreak, like cruise lines and airlines. He said more details would be coming in a Tuesday press conference. But “That was news to everyone on the inside,” an administration official told CNBC, and the details of a plan are “not there right now.”
Economic adviser Larry Kudlow and Treasury Secretary Steven Mnuchin will discuss options with Senate Majority Leader Mitch McConnell and other Republicans on Tuesday prior to the press conference, and the White House is reaching out to Wall Street executives for their thoughts. Because why would you include Democrats in the discussion, with their silly little ideas like paid sick leave? Continue reading.