NEW: The proposal, obtained by ABC News, would authorize two $250 billion rounds of direct payments to individual taxpayers, with the first payment issued beginning on April 6. Another wave of payments would be distributed to taxpayers beginning on May 18.
6 min readThe plan is still being negotiated but the White House says it wants to start sending checks out"immediately."
“We are also playing with a lot of numbers, a lot of very big numbers and a lot of very small numbers, frankly,” Trump told reporters at the White House. “We have to help everybody. It was nobody's fault. This happened. I mean, some people could say it was somebody's fault, actually.
The Senate is expected to pass a previous measure -- the Families First Coronavirus Response Act -- Wednesday afternoon, which represents the second phase of Congressional efforts to ease the impact of the pandemic, including free coronavirus testing for everyone who needs a test, paid emergency leave, expanded unemployment insurance, food security and increased funds for Medicaid.
Treasury Secretary Steve Mnuchin, second from left, speaks with members of the media as he departs a meeting with Senate Republicans on an economic lifeline for Americans affected by the coronavirus outbreak on Capitol Hill in Washington, March 16, 2020. Standing with Mnuchin is White House chief economic adviser Larry Kudlow, right.The proposal also calls for aid specifically for the airline industry, securing $50 billion of funds for secured lending to U.S. passenger and cargo air carriers.
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White House, Senate GOP working on $1T stimulus package, cash payments to AmericansThe White House and Senate Republicans are working on a $1 trillion economic stimulus package — the third infusion of emergency spending to help the U.S. economy amid the coronavirus pandemic. The measure would include direct payments to Americans.
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Trump says he's looking at 'big, bold' economic stimulus package, including sending checks to Americans'We're looking at sending checks to Americans immediately,' Treasury Secretary Steve Mnuchin said at a news conference Tuesday.
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'A big, bold package': Trump calls for pumping $1 trillion into economy to counter coronavirus hitPresident Trump has urged Congress to work with him on a 'big, bold' stimulus package to counter the economic damage from the coronavirus pandemic.
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Trump is not the first president to try sending stimulus checks to AmericansProviding direct stimulus payments is not a novel idea. The last president to do so was former President George W. Bush, who mailed out checks during the recessions of 2001 and 2008 to mitigate economic pain.
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Americans would get two checks under Treasury Department proposalNEW: 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.
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