US Pres. Trump: Payroll tax cut must be on table in discussions over coronavirus relief

"The elimination of sanctuary cities, payroll tax cut and perhaps capital gains tax cut must be on the table in discussions over coronavirus relief," US President Donald Trump said on Tuesday. "Liability protection and business tax deductions for restaurants and entertainment must also be considered," Trump added.

Meanwhile, Vice President Mike Pence noted that White House was having conversations about when to wind down the coronavirus task force. "Looking to possibly transition coordination of coronavirus response back to federal agencies around Memorial Day weekend at end of the month," Pence explained.

Market reaction

Wall Street's main indexes remain on track to close the day decisively higher following these comments. As of writing, the Dow Jones Industrial Average was up 1.55% on the day and the Nasdaq Composite was gaining 2.35%.