Source: The Washington Post
by Jeff Stein, Heather Long, and Erica Werner
March 6, 2020
White House economic adviser Larry Kudlow said Friday the administration may propose “timely and targeted” federal interventions to help workers, firms and industries hurt by the coronavirus, as fears mount over the growing economic impact of the spreading outbreak in the U.S.
White House officials are considering deferring taxes for industries hurt by the coronavirus outbreak, including the cruise, travel and airline industries, among other options, two people briefed on the discussions said. The talks remain fluid and are preliminary. Administration officials disagree on the extent to which some of these measures could be done without Congress.
Kudlow’s comments were the most definitive a White House official has made so far about offering government assistance to companies that have been adversely impacted. For several weeks, White House officials had mostly minimized the economic impact of the outbreak and said it would be short-lived.
Speaking on CNBC and Fox Business, Kudlow rejected suggestions of a larger stimulus package in part because he claimed that the virus is largely “contained” and the U.S. economy remains strong.
But Kudlow said Friday the U.S. government may provide help to certain sectors, such as the hospitality and airline industries. The federal government may also step in and help people in certain parts of the country forced to stay at home because of coronavirus, as well as small business who may need “cash flow” help amid the outbreak, according to Kudlow.