"This was something that we were thrown into and we're going to handle it, and we have been handling it," Trump told reporters in the White House briefing room.
The president said he and other White House officials will hold a press conference Tuesday after meeting with senators to discuss "major" economic proposals.
All three major stock indexes plunged more than 7 percent Monday over fears that a burgeoning oil price war between Russia and Saudi Arabia would fuel a deeper economic downturn caused by the coronavirus.
This may worth something:
After a brutal day, stock futures gain after Trump floats cuts to payroll taxes -
U.S. stock market futures shook off early losses and shot higher late Monday, following Wall Street's worst selloff since 2008.
A Tuesday rebound would not be unusual — Bespoke Investment Group strategists found that in the 10 previous times since 1952 that the S&P 500 fell 5% or more on a Monday, the index has gained the following day, by an average of 4.2% .
Dow Jones Industrial Average futures YMH20, +4.20% were last up around 600 points, or 2.7%, while S&P 500 futures ESH20, +4.38% and Nasdaq-100 futures NQH20, +4.51% were each up more than 2.5%.
Sorry, but It's Tax Time, and You Should Probably Read All This Stuff - The New York Times
I dread filing taxes. At best, after preparing my return, I learn that I'll get a modest refund, one that isn't worth all the trouble. At worst, I get news like I did last year.
Thanks to the 2017 tax overhaul, I discovered that the Internal Revenue Service hadn't been gobbling up enough of my paycheck week by week. I owed the Treasury an unexpected bill. What fun!
Perhaps your experience has been better. You may love tax preparation or even profit from it, in which case, congratulations. It's your special time of year. For everyone else, though, we offer condolences, plus a little more: help.
Minnesota House Republicans renew push for $1 billion in tax cuts | Grand Forks Herald
While you're here, how about this:
Grassley considering options for targeted tax relief over coronavirus | TheHill
"While we continue to assess the economic impacts, Chairman Grassley is exploring the possibility of targeted tax relief measures that could provide a timely and effective response to the coronavirus," Grassley spokesman Michael Zona said. "Several options within the committee's jurisdiction are being considered as we learn more about the effects on specific industries and the overall economy."
Grassley's statement comes as the White House has also been weighing ways to mitigate any economic impact of the outbreak.
What is the Difference Between AGI and MAGI on Your Taxes? - TheStreet
Typically, your MAGI (modified adjusted gross income) and AGI (adjusted gross income) are close in value to one another. However, the small adjustments that tweak your AGI into your MAGI could have an important bearing on your overall tax return.
Your adjusted gross income is all of the income you bring in, minus certain adjustments. You can find the allowable reductions to your income on the front page of your Form 1040.
* * *
Many deductions phase out or disappear altogether if you have an AGI above certain limits. Deductions affected by your AGI include the following:
Utah lawmakers looking at $15M Social Security tax cut - The Salt Lake Tribune
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Members of the House Revenue and Taxation Committee voted unanimously Monday for a bill that would offer $15 million in new tax credits to Utah Social Security recipients.
The bill, HB181 , would raise the income threshold for joint filers claiming the credit from $30,000 to $45,000, extending the benefit to roughly 58,000 retirees.
"We're actually taxing the Social Security part twice," said Rep. Walt Brooks, R-St. George. "We tax it when they make it, and we're taxing again when they receive it."
Happening on Twitter
I'm sure the Trump, Trudeau, and Johnson will propose bailouts of the oil industry, but we cannot let them. This… https://t.co/BZJYd5PQFd EricHolthaus (from Mdewakanton land / Minnesota) Sun Mar 08 22:39:03 +0000 2020
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