Economic

US President Donald Trump Proposed Reducing Tax to Combat Covid-19

The administration of US President Donald Trump said it had proposed to reduce the wage fund tax to 0% and financially support workers who cannot work due to infection to fight the epidemic.

According to CNBC , on March 10, Mr. Trump met with Republican congressmen on March 10 to discuss solutions to protect the US economy from the threat of the Covid-19 epidemic.

The White House boss wants to cut the payroll tax of businesses to 0% until after the US presidential election in November. In addition, sick leave workers will be paid.

The White House is also committed to reducing taxes on the aviation and hotel industries, making it easier for small and medium-sized businesses to access capital.

US President 
Donald Trump spoke at the meeting on March 10. 

Keep calm. Everything will be fine. The government is doing everything very effectively, “President Trump said on the sidelines of the meeting. However, a Wall Street Journal source revealed that US congressmen were not too excited about the plan to cut payroll tax.

Democratic MPs prioritize measures to support devastating industries in Covid-19 and sick workers. It is likely that Democrats will propose an economic stimulus package.

“It seems the Trump administration sees tax reduction as a way to solve all problems,” criticized Democratic Senator Chuck Schumer.

As of March 10, the US confirmed 729 cases of corona virus infection, of which 27 died. New Rochelle, located in Westchester County on the outskirts of New York City, recorded 108 cases and became the country’s largest outbreak.

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