03/17/2020

Amid Coronavirus Spread, Trump Seeks Stimulus Package Potentially Exceeding $1 Trillion

The package would include direct payments to Americans

The White House is seeking a stimulus package worth anywhere from $850 billion to more than $1 trillion as the Trump administration looks to battle the economic impact from the coronavirus pandemic, according to a source familiar with the matter.

An administration official said the package could include:

• $500 billion to $550 billion in direct payments or tax cuts
• $200 billion to $300 billion in small business assistance 
• $50 billion to $100 billion in airline and industry relief

Potentially $250 billion of the package could go toward making direct payments to Americans, a White House official told The Wall Street Journal on Tuesday. Treasury Secretary Steven Mnuchin said earlier Tuesday that the administration wants to get emergency funds in Americans’ pockets “immediately.”

Please select this link to read the complete article from CNBC.