White House pitching massive coronavirus relief bill to Congress

Treasury Secretary Steven T. Mnuchin is expected to meet with Senate Republicans Tuesday to discuss an $850 billion coronavirus relief package including aid for hard-hit industries.

White House aides say the package could include more than $50 billion for airlines, about $500 billion in payroll tax cuts and $250 billion or more in Small Business Administration loans.

The U.S. airline industry said it has lost about one million passengers in the first two weeks of March alone, compared with the same period a year ago.

President Trump said Monday the pandemic, which has closed many businesses and schools across the country, could push the nation into a recession. The stock market suffered huge losses Monday, falling more than 12% to wipe out nearly all the gains since Mr. Trump was inaugurated.

Markets were up slightly in early trading Tuesday.

The Senate also is taking up a House-passed bill to provide paid sick leave, free coronavirus testing and other aid to states dealing with the outbreak.