White House looking to defer taxes for travel and airline industries – WP

The Trump administration is considering deferring taxes for industries that are likely to be impacted negatively by the coronavirus outbreak, The Washington Post said on Friday, citing two people familiar with discussions.

Cruise, travel, and airline industries are likely to take advantage of the tax deferral reportedly.

Earlier in the day, White House economic adviser Larry Kudlow noted that the US economy was expected to slow down in certain areas. "More information is needed before action can be taken to help the economy with fiscal measures," Kudlow added.

Market reaction

Market sentiment seems to have improved slightly in the last hour. Wall Street's main indexes, which started the day more than 3% lower, were last seen down between 1.8% and 2.3%.