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.”
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