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Washington debates how to boost sickened economy

by Harvest Prude
Posted 3/12/20, 11:50 am

The stock market tumbled again on Thursday. The COVID-19 outbreak continues to disrupt the American economy despite an effort from President Donald Trump to calm investor’s fears on Wednesday. The Dow Jones Industrial Average fell Thursday by more than 2,000 points, triggering a temporary halt in trading.

What is the United States doing about the losses? Partisan divides remain over an emergency economic stimulus package. Trump wants to eliminate payroll taxes temporarily. He also announced that the Treasury Department will allow people affected by COVID-19 to defer their tax payments due April 15. House Democrats will vote Thursday on a separate package without the payroll tax cut, opting instead for increased food assistance, paid sick leave, and unemployment insurance.

Dig deeper: Read Maryrose Delahunty’s report in Muse about how COVID-19 has affected the entertainment industry.


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Harvest Prude

Harvest is a reporter for WORLD based in Washington, D.C.

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  • NEWS2ME
    Posted: Thu, 03/12/2020 04:30 pm

    The house Dems offering increased food assistance, paid sick leave, and unemployment insurance?

    Which is for gov't employees?

    What about the rest of the country? 

    Are they going to hire special gov't workers who can figure out each person's needs? 

    Something else the gov't can mess up.

    I can't even imagine the CHAOS of trying to do what the HOUSE is proposing if it is for everyone living in the U.S. 

  • NEWS2ME
    Posted: Thu, 03/12/2020 04:33 pm

    And then if the House insists on their ideas, they can then claim Trump did nothing?

    Pelosi's dirty politics are very scary. 

  • NEWS2ME
    Posted: Thu, 03/12/2020 04:58 pm

    How about we take a vote to see what the people want? 

    After looking at payroll taxes recently because of filing tax returns, I'd say MOST people would prefer a cut in their payroll taxes. 

     

  • NEWS2ME
    Posted: Fri, 03/13/2020 01:03 am

    "food assistance, paid sick leave, and unemployment insurance"?

    What? Hand out snap cards to the people who stand in line to get them? And then tell them their employers will pay for the sick leave and unemployment insurance? Meanwhile all those people can catch the virus from the people in lines.

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