NEW: US Treasury Dept. would be asking Congress for $500B in direct payouts for taxpayers as part of a $1T stimulus package to combat the economic effects of the coronavirus pandemic, according to a proposal obtained by NBCNews.
on Wednesday, and said,"I don't want to get in that right now" because there are"different numbers" being discussed. But, he added,"we want to go big."
The Treasury is also asking for $50 billion for the airline industry, a small business interruption loan program of $300 billion, and $150 billion for other distressed sectors, the proposal said. Trump had initially favored a payroll tax cut to bring relief to Americans struggling financially, but a number of lawmakers across party lines have been pushing for direct payments to Americans.for sending checks directly to Americans during a news conference Tuesday. Treasury Secretary Steven Mnuchin said Trump wanted Americans to get relief as soon as possible.
"Americans need cash now, and the president wants to get cash now," Mnuchin said Tuesday."And I mean now in the next two weeks." On Monday, Sen. Mitt Romney, R-Utah, proposed giving every adult $1,000 to help meet financial obligations. A group of Senate Democrats, led by Michael Bennet of Colorado, Cory Booker of New Jersey and Sherrod Brown of Ohio, proposed sending as much as $4,500 to each American.
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