President Trump will be sending checks to American adults to help them while the ongoing coronavirus continues to keep many places closed.
During a presser at the White House on Tuesday morning, Treasury Secretary Steven Mnuchin said Americans can expect these checks very soon.
“Americans need cash now,” Mnuchin said per Axios. “And I mean now — in the next two weeks.”
BREAKING: Treasury Secretary Steven Mnuchin says the White House is considering a stimulus package directly for American Workers, saying:
"We are looking at sending checks to Americans immediately." pic.twitter.com/3BfFrBYIpR
— Michael Coudrey (@MichaelCoudrey) March 17, 2020
Almost immediately, Munchin was asked by a reporter how much money people can expect to receive.
While he did not specify a figure, the treasury secretary said he would be “previewing” a figure with Republican members of Congress. He hinted it would be larger than the figure currently being floated in mainstream media.
This could be a reference to a plan pitched by Republican Senator Mitt Romney who floated $1,000 per month to every adult throughout the coronavirus.
BREAKING: Pres. Trump and Treasury Sec. Mnuchin say they're looking into sending Americans checks for $1,000 each to mitigate the economic impact of the coronavirus. They've released no details yet, but the idea echoes Andrew Yang's call for a universal 'Freedom Dividend' pic.twitter.com/P69bA3Ja24
— NowThis (@nowthisnews) March 17, 2020
What he’s saying:
- It’s still unclear who would get money and how much, but Mnuchin indicated that it would be aimed towards those most hurt by the coronavirus outbreak.
- “We don’t need to send people who make a million dollars a year checks,” Mnuchin said.
- Some on Capitol Hill and liberal and conservative economists have called for direct government payments of $1,000 to every American adult. Mnuchin said the amount of each check “may be a little bit bigger than whats in the press.”
Mnuchin also announced that the government will defer up to $300 billion in tax payments, allowing individuals to defer up to a million dollars and corporations to defer up to $10 million for corporations — interest-free and penalty-free for 90 days.
Mnuchin said that the the administration intends to keep financial markets open, but shorter hours may be necessary
Note: The author of this article has included commentary that expresses an opinion and analysis of the facts.
NEW: Treasury Sec. Mnuchin says $300 billion in tax payments will now be deferred.
— ABC News (@ABC) March 17, 2020