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Trump Lacks Detail in Vows on Stimulus, Aid to Virus-Hit Sectors

  • President said he’ll announce outline of plan later today
  • Payroll tax cut, sick leave among options, travel aid left out
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President Donald Trump says his administration will provide assistance to cruise lines and airlines as a result of the coronavirus outbreak. (Source: Bloomberg)
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President Donald Trump promised to announce “substantial” economic measures on Tuesday to combat the fallout from the coronavirus, including aid for the airline and cruise industries, yet continuing uncertainty about the details led early gains on Wall Street to fade.

Trump’s economic steps -- which could include a payroll tax cut and paid sick leave -- haven’t been communicated to Congress yet, though he is dispatching his top aides to start pitching the measures on Capitol Hill. The president, speaking at a White House meeting with insurance executives, said his administration will provide assistance to cruise lines and airlines, without offering details.