Call it a kind of coronavirus vaccine for the economy!
The Trump administration is considering a third coronavirus spending package worth hundreds of billions of dollars even as the Senate works to move along the more modest second relief bill that focuses on leave for workers and expedited testing for the disease officially known as COVID-19.
The White House is specifically pushing for an $850 billion stimulus, largely in the form of tax relief measures. Roughly $500 billion of this would be tied to a payroll tax cut, while $250 billion would come in the form of Small Business Administration loans and another $58 billion would be directed to the airline industry, among other measures.
The Washington Post first reported Tuesday morning that Mnuchin’s proposal would come with the $850 billion price tag. The Post, citing anonymous sources, reported that Mnuchin’s proposal would focus mainly on putting cash in the hands of individuals and businesses.
Coming out of a closed-door meeting with Republican senators later that afternoon, Mnuchin told reporters the proposal “on the table” would put “a trillion dollars into the economy” to help combat the impacts of coronavirus.
“That is on top of the 300 billion from the IRS deferrals. Now let me say this is a combination of loans, this is a combination of direct checks to individuals, this is a combination of creating liquidity for small businesses. So we look forward to working with the Senate,” he said.
Speaking to reporters at a press conference, Senate Majority Leader Mitch McConnell said they would vote on the House bill as soon as the Senate “can get permission to vote.”
Meanwhile, the White House has said it wants to adopt a measure originally presented by Utah Senator, Mitt Romney, to immediately send checks out to qualifying taxpayers.
“We are looking at sending checks to Americans immediately,” Treasury Secretary Steven Mnuchin said during a news conference at the White House Tuesday.
“Americans need cash now,” Mnuchin said. “And I mean now in the next two weeks.”
President Donald Trump, who had initially floated a payroll tax holiday, said that he favored more immediate action that could inject cash into American’s pockets faster than waiting for the next payday.
“I think we are going to do something that gets money to them as quickly as possible,” Trump said. “We will have a pretty good idea at the end of the day what we will be doing.”
It is unclear who would get money and how much, but Mnuchin indicated that it would be aimed towards those most hurt by the outbreak.
“We don’t need to send people who make million dollars a year checks,” Mnuchin said.
Good! Get cracken’.
I hope we are not giving up the ship to the Democrats for their careless need to furthering their need to get fund for the green deal etc. Nothing else needs to be in the BILL
Bella Pelosi, better known as Dracula. Sneaked in a 1 billion Dollar funding for Plan Parenthood (The abortion factory) in the Coronavirus bill. Never let a crisis go to waste is one of the Demoncrat 10 Satanic Commandments.
Wuhan Virus Bioweapon AKA: China Virus, Coronavirus weaponized by China and their treasonous Godless demoncratic Commie party and cohorts the fake media, academia, Hollywood, Millennials…to crash the greatest US economy ever! And to take down the greatest president ever, President Trump!! Keep up the great work President Trump! 2020 and beyond! From the Patriots of a Commie Demoncrat free America!
You, would think that the Democrats would want to help, the American people! But, no Pelosi and Schumer, have been doing nothing but, flapping their jaws, only want to start more bull shit! List up Democrats if, you don’t stop listening to trouble makers like Pelosi and Schumer and Schiff. You, will not win in the up coming ELECTIONS!
You may have a lot of money, but there are a lot of the American people who DONT.
Stay strong Republicans! Stay strong President Trump!
The dems will never let this bill pass because it will help the American people and stimulate the economy and that is exactly what they don’t want. These are disgraceful, despicable people, how long are we the people going to put up with their crape, I was put into quarantine this morning and I could have really used the help.
The DEMONrats (the party that sanctioned SLAVERY!) has OUTLIVED it’s usefulness! If it EVER was useful, of which I have my doubts. It is time to disband that party. They have NO compassion, no decency & no shame! They are only interested in keeping their collective STRANGLEHOLD on power! And you know what power does… IT CORRUPTS! Those heartless fools MUST be removed from the halls of power & an amendment MUST be added to the Constitution for TERM LIMITS! Read Article V, then contact your state officials! States CAN & SHOULD demand term limits so evil creatures like Pelosi, Shummer, Watters & their ilk cannot poison our future! Don’t sit on the sidelines America!!!! Vote these monsters OUT of our government. George Washington, in his farewell address urged Americans to avoid excessive political party spirit and geographical distinctions. Basically we are ALL Americans! Let’s start acting like it! END the Demonrats obstructionist bullshit! Thank you.