Los Angeles Times

Paid sick days? Payroll tax cut? Pros and cons of economic ideas to calm coronavirus fears

WASHINGTON - President Donald Trump, in a nationwide address Wednesday night, proposed a broad menu of economic aid for individuals and companies battered by the coronavirus pandemic.

In the Democratically controlled House, Speaker Nancy Pelosi, D-Calif., hopes to vote on a separate economic stimulus proposal Thursday.

The proposals run the gamut, including quick tax cuts and tax holidays, government-financed paid sick leave, aid for small businesses, and targeted bailouts for industries especially hard-hit, such as the airlines and cruise ship operators.

Here's a look at several key proposals, and their pros and cons:

PAYROLL TAX HOLIDAY

The "most important, powerful piece" of Trump's relief package, in the words of the president's economic advisor, Larry Kudlow, is a payroll tax holiday.

Congressional leaders in both parties were cool to the proposal, but Trump late Wednesday repeated

You’re reading a preview, subscribe to read more.

More from Los Angeles Times

Los Angeles Times3 min read
Commentary: USC’s ‘Security Risk’ Rationale To Thwart Peaceful Protest Is Not Justified
During Vietnam War protests, the Nixon administration called them “outside agitators.” Now my university’s provost prefers “participants — many of whom do not appear to be affiliated with USC.” Beyond Andrew Guzman’s misdemeanor of wordiness, the pla
Los Angeles Times3 min readAmerican Government
LZ Granderson: Arizona's Indictment Of Trump Allies Follows A Sordid, Racist History
I've lived and/or worked in 10 states scattered across the country. Arizona was and remains the most complicated. The same state that elected the first openly gay mayor of a large U.S. city is also the state that did not want a federal holiday for Ma
Los Angeles Times3 min readInternational Relations
USC Protests Remain Peaceful Saturday Night After Campus Is Closed; LAPD Calls Off Tactical Alert
Tensions rose on the University of Southern California campus Saturday after pro-Palestinian protesters returned with tents and reestablished an encampment in Alumni Park, where 93 people were arrested on Wednesday. They beat drums and put up banners

Related Books & Audiobooks