White House discussing options to stimulate economy

White House chief economic adviser Larry Kudlow speaks with reporters at the White House, Friday, May 15, 2020, in Washington. (AP Photo/Alex Brandon)

OAN Newsroom
UPDATED 11:21 AM PT — Tuesday, May 19, 2020

White House economic adviser Larry Kudlow said the administration is looking at new tax cuts amid the coronavirus pandemic.

While speaking to reporters at the White House Tuesday, Kudlow reiterated the president’s desire to give Americans a payroll tax cut to help support and stimulate the economy. He said such a move is more beneficial for all Americans versus sending out another round of checks.

Kudlow said the administration is focused on reopening the U.S. economy and is discussing several options to help Americans hurt by the shutdown. He also noted that lowering the corporate tax rate would help to encourage businesses to bring their production back to the U.S.

Repatriating the supply chain has been a key focus of the administration since President Trump took office and has been heightened by challenges amid the coronavirus pandemic.

As unemployment has skyrocketed since March, Kudlow predicted the unemployment rate could be back under 10 percent by the end of the year as states begin to allow people to return to work.

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