The Trump Administration is looking into whether it could sidestep Congress and issue its own coronavirus economic relief programs by executive order.
Among initiatives under consideration are cutting payroll and capital-gains taxes, establishing measures to protect businesses against COVID-19 related lawsuits and a further extension of the deadline for filing income taxes beyond the July 15 extension now in effect, possibly to September 15 or even December 15, NBC News reports.
As the country begins to reopen, Trump has said that he favors a liability shield for businesses, commenting that it would be “litigation heaven” if the country would reopen without such protection for vulnerable businesses, Business Insider said.
NBC noted that a moratorium on new federal regulations also is under consideration.
White House spokesman Judd Deere said in a statement that all of these policies are being considered with the goal of getting the country open and the economy running again.
“As President Trump has said, we are going to ensure that we take care of all Americans so that we emerge from this challenge stronger and with a growing economy, which is why the White House is focused on pro-growth, middle class tax and regulatory relief,” Deere said in a statement, NBC reported.
Trump said, “We can do things ... through executive order or otherwise that can help a lot of people ... like delays. We can do delays of various files. ... I can see that happening,” Reuters reported.
He insisted that the greatest thing that could happen was to “get our country open again and get it going again and have people have these great jobs again" Reuters reported.
Expectations are that a new jobs report on Friday will show a 20% unemployment rate, the worst in history, and projections that the unemployment rate could rocket to 30% and 50% of small businesses has driven Trump to ramp up pressure for reopening the economy, NBC said.
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