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Trump, top Republicans scramble to contain economic blow of coronavirus

Editor CBS News March 10, 2020

Washington — The federal government scrambled to minimize the economic fallout from the spreading coronavirus as financial markets fell off a cliff on Monday, with President Trump convening his top economic advisers in Washington and the Republican chairman of the Senate Finance Committee signaling a willingness to provide tax relief to soften the blow.

The president planned to meet with top economic adviser Larry Kudlow, Treasury Secretary Steve Mnuchin and others at the White House upon his return from Florida on Monday afternoon. The officials will present recommendations for temporary, targeted financial measures, according to a source familiar with the plans.

Meanwhile, Senator Chuck Grassley, the Finance Committee chairman, is considering “targeted tax relief measures,” a committee spokesman said. The spokesman did not specify what kind of tax relief senators might be considering, or provide a timeline for when lawmakers might take up the matter.

…continued .
[Source: CBS News]

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  • Answers to 9 crucial questions about the coronavirus variants spreading around the worldAnswers to 9 crucial questions about the coronavirus variants spreading around the world
  • Prisons are covid hot spots. But few countries are prioritizing vaccines for inmates.Prisons are covid hot spots. But few countries are prioritizing vaccines for inmates.
  • Biden Outlines $1Biden Outlines $1.9 Trillion Spending Package to Combat Virus and Downturn
  • What’s in Biden’s $1What’s in Biden’s $1.9 Trillion Stimulus Plan
  • Biden's $1Biden’s $1.9 trillion Covid relief plan calls for stimulus checks, unemployment support and more

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