Trump Balks at Stimulus on Virus While Clamor to Act Gets Louder
- President looks to Fed, Congress as markets continue sell-off
- White House is confident that it can meet challenges of virus
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Donald Trump’s response to the coronavirus outbreak and the damage it’s inflicting on global markets is most notable for what he hasn’t done.
The president has so far balked at pursuing a major fiscal plan to counter the market turmoil stemming from the virus’s spread. He said Tuesday it’d be a good time for Congress to cut income taxes again but hasn’t made his own proposal, and he is not considering a payroll tax cut or a rollback of tariffs on Chinese imports, his Treasury secretary said.