Trump pushes economic stimulus

Stock markets sank again Wednesday despite some recovery the day before. Politicians on both sides of the aisle are looking at measures to blunt the new coronavirus’s economic drain. President Donald Trump on Tuesday pitched a payroll tax cut to Senate Republicans. House Democrats, meanwhile, are working on a stimulus package that would ensure unemployment insurance and sick pay for workers.

Can lawmakers reconcile their differences in time? Treasury Secretary Steven Mnuchin met with House Speaker Nancy Pelosi, D-Calif., on Tuesday to discuss passing bipartisan legislation. Congress is scheduled to go on recess next week, which could drag out the final deal. House Democrats want to vote on their package by the end of this week.

Dig deeper: Read Lynde Langdon’s report in The Sift on the stock market’s extreme mood swings.