Lawmakers and the White House are putting aside any concerns about blowing up the deficit as they consider a trillion-dollar stimulus package to boost the economy in response to coronavirus.
Treasury Secretary Steve Mnuchin emerged from a meeting with Senate Republicans Tuesday saying the Trump administration's proposal would"inject a trillion dollars into the economy." And Senate Democratic Leader Chuck Schumer, who unveiled his own $750 billion stimulus plan, said that the eventual legislation"may have to be higher than that.
Despite Trump's campaign promises to shrink the deficit, Republicans passed a tax cut and struck a budget deal with Democrats that reversed the last of the spending cuts that had originally been agreed to in 2011, sending the deficit soaring despite low unemployment numbers.
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