The United States could pump $800-B or more into the economy to minimize damage from the coronavirus outbreak if Congress passes a payroll tax holiday through year end, White House economic adviser Larry Kudlow said Monday.
“We have an enormous fiscal plan. It’s at least $800 billion and maybe more,” Mr. Kudlow told reporters, totaling up actions already taken and tacking on President Trump’s proposed tax relief.
“We have roughly $400-B in … fiscal assistance” already in the pipeline, Mr Kudlow said.
Asked in a TV interview if the United States economy was headed for a recession, Mr. Kudlow did acknowledge the pain the ongoing outbreak of COVID-19 was having across the country.
“We are being challenged. It’s going to be tough,” he said.
Congress has to get going and support the President’s policies, Now.
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