President Donald Trump: We are going to take care of the American public and economy

President Donald Trump and members of his cabinet address the coronavirus outbreak.

The White House is not ready to roll out specific economic proposals in its response to the widening impact of the coronavirus outbreak, administration officials told CNBC.

The revelation comes as U.S. stock futures pointed toward a sharp rebound at the open Tuesday following the Dow’s 2,013-point drop Monday and President Donald Trump’s suggestion that a payroll tax cut and other stimulus measures may be in the works to mitigate economic damage from the virus’ spread. Trump has also invited Wall Street executives to meet at the White House on Wednesday to discuss the response.

However, inside the administration, some officials were stunned by Trump’s claim Monday that he would hold a press conference Tuesday to announce an economic plan. “That was news to everyone on the inside,” one official said.

The actual details of any plan remain up in the air. “It’s not there right now,” an official said. “A lot of details need to be worked out.”

The president’s schedule for Tuesday includes a 5:30 p.m. ET media briefing for his coronavirus task force.

In addition to the potential payroll tax cut, which faces skepticism from Senate Republicans, Trump also said the administration would work with travel industry players, such as airlines and cruise lines, as travel restrictions and fears stemming from the outbreak take a toll on them. American Airlines on Tuesday, for instance, slashed international and domestic flights as demand craters.

Wage relief for hourly workers is also under discussion, but it would require big federal spending and there are no details about how such a policy would work, an official said.

The officials cited in this story declined to be named since plans were still being worked out.

Trump on Friday signed an $8.3 billion spending package aimed at supporting states and researchers.

Treasury Secretary Steven Mnuchin and Larry Kudlow, the president’s top economic advisor, are slated to head to Capitol Hill on Tuesday to brief Senate Republicans on some ideas and try to get a sense of what is possible.

“The president has a strong point of view, and he’s looking forward to Senate reaction to that perspective,” a senior administration official said.

For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=youtube

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC

#CNBC
#CNBC TV