Public spending
[G] overnments should make sure that existing programs are not cut for lack of resources. In particular, central governments or subnational [e.g. state] governments that are facing balanced budget rules may be forced to suspend various spending programs (or to raise revenue). Measures should be taken to counteract the procyclicality built in these rules. For subnational entities, this can be mitigated through transfers from the central government … In the United States, for example, increased transfers from the federal government would help states avoid cutting various spending programs.

Government wages
Public sector wage increases should be avoided as they are not well targeted, difficult to reverse, and similar to transfers in their effectiveness. Nevertheless, a temporary increase in public sector employment associated with some of new programs and policies may be needed.

Industry Bailouts
It has been argued that governments should provide support to entire high-visibility sectors of the economy because of the potential effect that bankruptcies in these sectors may have on expectations and thus on demand. While there is some validity in this argument, its inherent arbitrariness, and risk of political capture, would make implementation too difficult. Its end result may, in fact, be to add uncertainty and raise questions about domestic protection. … Indeed, direct subsidies to domestic sectors lead to an uneven playing field with respect to foreign corporations, and could lead to retaliation and possibly trade wars.

Tax Cuts and Credits
[T]arget tax cuts or transfers towards those consumers who are most likely to be credit constrained. Measures along these lines (and discussed further in an appendix)
include the greater provision of unemployment benefits, increases in earned income tax credits, and the expansion of safety nets in countries where such nets are limited. Where relevant, support for homeowners facing foreclosures, including a write-down of mortgages using public resources, is particularly appealing from a macroeconomic viewpoint … .

Reduction in corporate tax rates, dividends and capital gains taxes or introduction of special incentives such as accelerated depreciation … are likely to be ineffective given that business profits and capital gains are low, except possibly in countries with very high corporate rates (e.g., Japan); like all such tax changes, they are often difficult to reverse.