President Trump addressed the nation this evening on actions intended to slow the spread of the coronavirus and address economic concerns about its impacts on employers and employees. 

The president outlined several policy actions, including:

• Expedited Small Business Administration loans to businesses in areas affected by the virus, and a request that Congress authorize an additional $50 billion for this purpose;
• Using executive authority to defer tax payments (without interest or penalties) for certain businesses and individuals, which he said would add $200 billion in liquidity to the economy; and 
• Immediate payroll tax relief, which would require congressional action.

Regarding the payroll tax cut, the president said, "Hopefully they [Congress] will consider this very strongly." So far, the proposal has struggled to find support from Democrats and key Republicans. Sen. Charles Grassley (R-IA), Chairman of the Finance Committee, has said the idea deserves study and perhaps consideration, but not at the moment.

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