The Trump administration recently announced plans to help alleviate economic hardship for hourly workers impacted by the coronavirus outbreak.
Has your job been impacted by the coronavirus? If so, listen up. Yesterday President Trump announced plans to help alleviate hourly workers who may be suffering economic hardship due to the coronavirus outbreak. While discussing his administration’s plans, Trump said:
“We are going to take care of and have been taking care of the American public and the American economy. We are going to be asking tomorrow, we’re seeing the Senate, we’re going to be meeting with House Republicans, Mitch McConnell, everybody, and discussing a possible payroll tax cut or relief, substantial relief, very substantial relief, that’s a big number…We’re also going to be talking about hourly wage earners getting help so that they can be in a position where they’re not ever going to miss a paycheck. We’re going to be working with companies and small companies, large companies, lot of companies, so they don’t get penalized for something that is not their fault, it’s not their fault…It’s not our country’s fault. This was something that we were thrown into and we’re going to handle it and we have been handling it very well. The big decision was early when we shut down our borders, we were the first ones ever to do that, we’ve never done that in our country before. We would have a situation that would be a lot more dire.”
“Also, we’re going to be seeing Small Business Administration and creating loans for small businesses. We’re also working with the industries, including the airline industry, the cruise ship industry, which will obviously will be hit…We’re also talking with the hotel industry and some places will do well and some places won’t do well at all, but we’re working also with the hotel industry. But the main thing is we are taking care of the American public and we will be taking care of the American public and I really appreciate the professionals behind me. We have a tremendous team and it’s headed up by our great Vice President Mike Pence and I want to thank Mike because he’s been working 24 hours a day.”
Prior to the announcement, the Trump administration was reportedly given a list of policy options regarding different ways to respond to the “economic impact from the coronavirus.” According to the Washington Post, that list included “deferring taxes on specific industries hit by the coronavirus downturn, such as the hospitality and travel industries, as well as a ‘cashflow injection’ for small businesses through the Small Business Administration.” It’s important to note, however, that many of the options would probably require congressional approval.