Administration Mulls Tax Relief as Rapid Stimulus Measure to Counter Virus Fallout

U.S. Treasury Secretary Steven Mnuchin gives a briefing on cryptocurrency at the White House in Washington, D.C. on July 15, 2019. Kevin Lamarque/Reuters

Treasury Secretary Steve Mnuchin told Congress on Wednesday that the administration wants to delay the April 15 federal tax deadline for some taxpayers in a bid to soften the blow of the coronavirus outbreak on the U.S. economy.

The move is part of a broader thrust by the Trump administration to seek the deployment of rapid stimulus measures that would bolster the economy and quickly reassure wildly fluctuating financial markets.