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rdf:type	schema:NewsArticle
schema:articleBody	US President Donald Trump will ask Congress to approve a massive $850 billion emergency spending package to contain the growing economic damage from the coronavirus pandemic, according to media reports Tuesday. The measures are expected to include a payroll tax cut and $50 billion in aid to troubled US airlines hit hard by the near total shutdown in the travel industry, The Washington Post reported, citing four officials familiar with the matter. The package, which is in addition to the $100 billion in spending directed at paid sick leave and expanded unemployment benefits already moving through Congress, surpasses the $700 billion emergency program known as TARP to save the banking system during the 2008 global financial crisis. Treasury Secretary Steven Mnuchin is expected to present the proposal to Senate Republicans, the Post reported. Republican leaders last week dismissed the Democratic package in the house as an inflated wish list of items. And since then the damage has accelerated with businesses forced to close and whole states under lockdown. Trump has been pushing for a cut or suspension of taxes deducted from all American paychecks at least through the November presidential election. But Democrats and many economists say focus on payroll taxes misses workers who are laid off, unemployed or are paid hourly. Most economists agree the crisis calls for a massive response to flood the economy with cash to keep households and businesses afloat. The Federal Reserve has slashed the benchmark lending rate to zero, where it was during the 2009 global financial crisis. It has taken extraordinary steps to ensure the financial system has plenty of cash to keep it from locking up, but Fed Chair Jerome Powell said a fiscal response will be "critical." hs/ft
schema:headline	White House seeking $850 bn stimulus package: report
schema:mentions	Steven Mnuchin Payroll tax Unemployment benefits Troubled Asset Relief Program Great Recession 2012 United States presidential election The Washington Post Federal Reserve Presidency of Donald Trump History of the United States Republican Party United States Senate United States Congress Lockdown Pandemic United States Coronavirus President of the United States Donald Trump Financial crisis of 2007–2008 Jerome Powell
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-17 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	86 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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