Trump Vows To Provide Relief For U.S. Economy Amid Virus Outbreak

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Trump Vows To Provide Relief For U.S. Economy Amid Virus Outbreak
The president said he'll talk to lawmakers about a possible payroll tax cut for businesses, as well as assistance for hourly wage earners.
SHOW TRANSCRIPT

President Donald Trump says his administration plans to provide "major" economic relief to help businesses and workers impacted by the coronavirus outbreak. 

But he first has to meet with lawmakers to discuss those steps Tuesday. 

"We're seeing the Senate, going to be meeting with House Republicans, Mitch McConnell, everybody, and discussing a possible payroll tax cut or relief, substantial relief, very substantial relief. That's a big number," the president told reporters Monday. 

The president said his economic stimulus package could also include financial assistance for hourly wage earners to ensure they don't miss a paycheck if they're sick.

"One of the things that I informed the President that I've been hearing from governors is the concern about hourly wage earners in this country feeling that they had to go to work, even if they were ill. And the President has tasked this economic team, and is already working with leaders in the Congress, to make sure that anyone is not – feels that they're at risk of losing their job or losing a paycheck because they may contract the coronavirus," Vice President Mike Pence said. 

The administration's announcement about the possible financial assistance came Monday — the same day the Dow plummeted by more than 2,000 points. It was the worst day Wall Street has seen since the 2008 global financial crisis.

The coronavirus has killed at least 26 people in the U.S. and infected more than 750 others. The majority of the deaths are in Washington state. 

Contains footage from CNN