Trump considering new measures to boost economy

One of the big questions is whether President Donald Trump will propose new tax cuts as his administration seeks to forestall a recession ahead of the 2020 election.
2:12 | 08/20/19

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Transcript for Trump considering new measures to boost economy
We go to the white house now where president trump and his team now considering new measures to boost the economy and forestall a recession ahead of next we're election. Terry Moran is tracking the latest. One big question, will the president propose new tax cuts? Reporter: Not right now, George. Good morning. You're absolutely right. In public the president and his team have been talking up the economy. They're pointing to continued economic growth, strong consumer spending and the like, but they can see the warning signs around the world and the U.S. And want to be ready just in case, especially in an election year so what are we talking about? They're looking at tax cuts for investors as well as some tax cuts perhaps payroll tax cuts for ordinary consumers. That's the fastest way to get cash Florida Americans' pockets. What no one is talking about right now is the deficit. It's ballooned under president trump and in a recession it would grow considerably. So that is something that also looms ahead. There's no question about that, Terry. Meantime, in the wake of those twin shootings, we remember the president coming out, it seemed to be quite strong, for the idea of new background checks. Want to take a look at that. There's a great appetite and I mean a very strong appetite for background checks and I think we can bring up background checks like we've never had before. Background checks that we've never had before a couple of weeks ago. Here was the president late Sunday when he got back from his vacation. It's the people that pull the triggers, not the gun that pulls the trigger but just remember we already have a lot of background checks. Pretty familiar pattern there, Terry. Reporter: Very familiar, George. We heard it after parkland and after other American massacres on this president's watch. Once Donald Trump supported the assault weapons ban and longer background checks and waiting periods, but that was before he became a president, a politician, seeking the NRA's endorsement. The NRA flooded the white house with calls and right now both sides are at a standstill. The president saying it's up to congress. Congress saying it's up to the president, nothing will likely get done. The cycle repeats itself so many times. Thank you, Terry.

This transcript has been automatically generated and may not be 100% accurate.

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