WASHINGTON (Reuters) – U.S. President Donald Trump said he will ask Congress for a payroll tax cut and other “very major” stimulus moves on Tuesday to ease the economic pain of the coronavirus, but the details remain unclear. The goal, business groups and economists say, is to get more cash into the pockets of workers and companies quickly. As administration officials head to Capitol Hill to discuss their plans with Senate Republicans, the method and recipients of any stimulus are still in flux. The president has been pushing for a broad payroll tax cut but others inside the White House want a targeted response that benefits industries and areas hardest hit by the virus, advisers say. On Tuesday morning, Trump said cruise and airline industries would be getting aid, but did not elaborate. “They’re two great industries, and we’ll be helping them through this patch,” Trump said at a White House event. The administration needs to act fast, as the country braces for a potentially massive downturn, economists and trade groups say. “This isn’t a situation where we need to flood the economy. What we need to do is help anyone who’s adversely impacted navigate and get to the other… Read full this story
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