trump emergency plan takeaway
- ALL TRAVEL FROM EUROPEAN UNION SHUT DOWN FOR 30 DAYS
- FEDERAL INCOME & PAYROLL TAX DEFERRALS
- SMALL BUSINESS STAFFORD LOANS AT LOW INTERESTS TO BE MADE FOR RELIEF
Here’s what Trump proposed in his speech
This is what President Donald Trump said he would either execute himself or ask Congress to tackle in response to the coronavirus.
- Travel restrictions: Trump said as of Friday at midnight, all travel from Europe to the United States – with the exception of the U.K. – will be suspended for the next 30 days. The president also said there will be travel restrictions for Americans coming from Europe “who have undergone appropriate screenings.”
- Paid sick leave: Trump said he plans to take emergency action soon to provide financial relief to workers who are quarantined or caring for others due to coronavirus. He added he would be asking Congress to take legislative action to extend the relief
- Small business loans: Trump said he is instructing the Small Business Administration to provide capital and loans to businesses affected by coronavirus, effective immediately. He added he’s asking Congress to increase funding for this program by an additional $50 billion to help those businesses hardest hit by economic uncertainty over the virus.
- Defer tax payments: Trump said he would instruct the Treasury Department to “defer tax payments” without interest or penalties for “certain individuals and businesses negatively impacted.” He did not define which businesses or individuals. He said the moves would add $200 billion in liquidity to the economy. Tax day is April 15.
- Payroll taxes: He called on Congress to provide Americans with “immediate payroll tax relief,” and implored lawmakers to “consider this very strongly” despite bipartisan pushback that idea received Wednesday.
– Courtney Subramanian and John Fritze
Trump misspeaks on cargo ban, clarifies in tweet
Minutes after addressing the nation about the coronavirus pandemic, President Donald Trump had to clean up his remarks Wednesday to clarify that he was not proposing a ban on cargo from Europe.