White House Considering Tax Relief For Airlines
The Trump administration is considering tax relief for airline, cruise and travel industries, according to Reuters.
Companies in these industries have been experiencing decreasing demand as coronavirus has scared consumers away. The Trump administration wants to implement some fiscal policy to help the US economy and this tax relief could be only one piece of the puzzle.
On Friday, the Labor Department released strong payroll data for February. However, these surveys were taken prior to the uptick in overall infections. “There are a lot of things we can do for cash-flow purposes, possibly deferred tax purposes, and we can set up mechanisms to do that,” Kudlow said.
White House economic adviser Larry Kudlow believes that it is too early to predict the effects of the slowdown. Furthermore, he emphasized the current strength of the US economy and believes that we are far from entering a recession.
The Trump administration is considering tax relief for airline, cruise and travel industries.