Trump administration wants to send $500 billion in payments to Americans in two rounds
The administration's proposed stimulus package will include two rounds of direct payments to taxpayers totaling $500 billion, according to a document obtained by NBC.The government is also looking to set aside $50 billion to the ailing airline industry, as well as $150 billion to "other distressed sectors."
The White House hopes to send out its first round of checks on April 6, and the second on May 18. It will base payments on income level and family size, according to the document. The administration is also looking to roll out a business interruption loan program of $300 billion to aid smaller companies that have had to temporarily shut their doors, or otherwise curtail commerce during the pandemic.that could top $1 trillion as soon as this week. First it must be cleared through Congress.
The COVID-19 virus, which is believed to have originated in the Chinese city of Wuhan, has quickly spread to dozens of countries globally.and at least 8,007 deaths so far, according to data from Johns Hopkins University.
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