The promise is going to be tough to deliver
President Trump helped to reverse market sentiment late yesterday when he promised to unveil “dramatic” and “major” economic policies today.
CNBC’s Eamonn Javers reports:
I’m told that there is no finalized economic plan inside the White House now. As of last night, I was told: “it’s not there right now.” A lot of details to work out.
Trump mentioned a payroll tax cut and that’s a bit of a trap for Democrats. They’re pushing for paid sick leave but Trump and Republicans will try to bundle in more. If/when Democrats reject it, Trump will frame it as Democrats being against a tax cut.
There’s also this from Politico’s Jake Sherman:
What’s urgently needed is something on paid sick leave to slow this down, rather than planning for economic impacts. Putting in a tax cut and politiking is going to drag it out and eventually cost more.