- The coronavirus induced sell-off has created a number of attractive buying opportunities, Fool.com, March 8, 2020.
3. President Trump’s push to cut the payroll tax as part of an effort to revive the economy is facing steep headwinds on Capitol Hill.
Trump has spent days making the pitch publicly, as well as privately, as Washington is under growing pressure to try to shore up the stock market, which has plummeted this week over growing concerns about the growing coronavirus outbreak.
House Democrats are set to unveil an economic response package that does not include a payroll tax cut. Meanwhile, Senate reactions range from deep skepticism to, in some cases, outright opposition, raising questions about whether a plan could ever reach Trump’s desk.
"I know that’s in the conversation … I would prefer they exercise other options before going down that path,” said Sen. John Thune (S.D.), the No. 2 Republican senator, while caveating that it's “too early” to make decisions on legislation.
...
Sen. Ron Johnson (R-Wis.) said the “path of least resistance” would be the administration and states focusing on steps they can take unilaterally or using resources they already have, before trying to get something through Congress.
"The quickest way to get relief to American families is using existing authorities and existing funds,” Johnson said, asked if he supported a payroll tax cut. “Rather than trying to get something through this place.”
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