Trump Administration Considers Pushing Back Tax Deadline to Help Economy Amid Coronavirus Outbreak

As the nation’s leaders cobble together plans to help keep the economy afloat amid the 🦠Coronavirus Outbreak, the Treasury Department is considering pushing back the deadline for filing taxes.

Treasury Secretary Steven Mnuchin told Congress on Wednesday that the administration is looking at delaying the April 15 deadline for individual filers and small businesses.

“We are looking at providing substantial relief to certain taxpayers and small businesses who will be able to get extensions on their taxes,” Mnuchin said during a House Appropriations subcommittee hearing.

“We think we can provide over $200 billion of liquidity into the economy by delaying certain tax payments,” he said.

However, Mnuchin did not provide a new deadline.

Additionally, he said that the administration is focused on helping “small and medium-sized businesses” that could suffer financially if their employees have to same home because of the coronavirus.

“There are a large number of workers that are going to be required to self-quarantine, or be at home to take care of family members who are self-quarantined,” Mnuchin said.

“For small- and medium-sized businesses, we think it’s appropriate for the government to pick up those costs,” he added.