Home » News » Donald Trump will send a tax cut project to the US Congress to face the coronavirus

Donald Trump will send a tax cut project to the US Congress to face the coronavirus

The president of the United States, Donald Trump, announced Monday that he will send to his country’s Congress a series of economic relief measures designed to address the coronavirus pandemic and at the same time carry calm the financial markets around the world, which They had a black Monday on the day.

These measures include a cut in labor taxes and a program to protect non-salaried workers at the time of staying at home to stop the expansion of the COVID-19 virus.

This last point has become an axis of debate in the United States, since the authorities have recommended to anyone who has symptoms similar to the coronavirus that remains in their home, but in the case of those who work by the hour and without a contract this means the loss of their income.

Although Trump did not offer details about the scope of his program, he said during a press conference at the White House in which he was accompanied by Vice President Mike Pence that it was a “Very important relief.”

The package will arrive at the United States Congress on Tuesday and Trump was expected to offer a press conference in the afternoon of the same day to offer more information.

“We are going to discuss a possible cut in labor taxes that will be a very substantial relief, a large number,” The US president said during his brief speech, and then admitted that COVID-19 had “surprised” the world.

So far, 113,582 confirmed cases and 3,996 deaths have been confirmed by the coronavirus, a strain that emerged in the Chinese city of Wuhan that has spread throughout the world. In the United States 605 infections and 22 deaths have been reported.

Reacting to fears about the outbreak of coronavirus, the general decline in global demand and the collapse of oil, the main indices on the New York Stock Exchange suffered on Monday the worst losses since the international financial crisis of 2008.

The Dow Jones fell 7.8%, followed by the S&P 500 with 7.6% and the Nasdaq with 7.29%, on a day marked by the panic of investors and their willingness to get rid of their actions to Focus on the bonuses.

Hours before, the European stock exchanges in Germany, the United Kingdom, France and Italy had closed with falls of between 7.4 and 11.17%, and the oil continued to collapse towards historic floors, reaching about $ 33 a barrel.

With information from Reuters and AP

Leave a Comment