Report: WH Will Be Sending $1,000 Per Adult, $500 Per Child To Those Who Qualify For Relief

During a presser on Thursday, Treasury Secretary Steven Mnuchin said the White House is in the final stages of handing out Coronavirus relief checks amid the ongoing pandemic.

As Americans in the private sector are being relieved of work, President Trump, the Center for Disease Control and Prevention (CDC), and governors in various states are instituting social distancing and self-quarantine guidelines.

According to Mnuchin, the Trump administration will be sending most American adults $1,000 within the next three weeks. An additional $500 will be sent to the parents of each child as a means to provide an income for those missing work.

The checks could be just an initial sum if the coronavirus persists for more than six weeks, the Washington Post reports:

Mnuchin, speaking on Fox Business, said a second round of payments for the same amount could be sent within the next six weeks if the crisis continued. The White House’s urgency has intensified as economic forecasts have become increasingly gloomy. A J.P. Morgan Chase analyst forecast that the U.S. economy could shrink by 14 percent between April and June, which would mark the worst quarterly contraction since World War II.

Mnuchin’s comments are part of the rapidly evolving fiscal stimulus plan that the White House and congressional leaders are scrambling to assemble amid growing signs that large parts of the economy are grinding to a halt. House Democrats, meanwhile, are working on their own set of proposals, and negotiations with the White House are expected to begin very soon.

According to the report, the checks come after President Trump partnered with the House and Senate to write up a coronavirus relief bill, which easily cleared both chambers and is on its way to Trump’s desk.

The bill makes available $1 trillion for the president to use to help the struggling economy.

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Upon signing the bill, the White House will start mailing out checks to every American who qualifies for relief.

The qualifications are not clear at this time but could be cut off for individuals who make more than $75,000 per year. This figure is merely speculative, the Washington Post reports, coming from two people familiar with negotiations. Those unidentified individuals said the talks were ongoing and the figure could easily change.

“As it relates to the big companies like the airlines, we’re looking at making secured loans on market terms,” Mnuchin said per the report. “So you know we’ll see whether that includes equity or doesn’t include equity. Again, we’re not going to force things on people. But people who need liquidity — we’re going to make sure that the taxpayers are compensated fairly.”