White House expresses support for making immediate cash payments to Americans as part of coronavirus stimulus package






The Trump administration expressed support on Tuesday for sending direct cash payments to Americans in the next two weeks as part of a massive economic stimulus package that is taking shape in Washington, something the White House hopes could stanch the economic free fall caused by the coronavirus.
“We’re looking at sending checks to Americans immediately,” Treasury Secretary Steve Mnuchin said Tuesday. “And I mean now, in the next two weeks.”
The cash payment idea, which originated in Congress, is part of a roughly $850 billion stimulus plan that the White House is trying to push into law as soon as possible. It could become one of the largest federal emergency fiscal packages ever assembled.
In addition to direct cash payments, the White House wants the legislation to include support for businesses, aid for the airline industry, and a range of other measures. And to further try and stabilize the economy, the Treasury Department and Federal Reserve took a step Tuesday to make it easier for companies to borrow money, while the White House gave more flexibility to taxpayers to delay payments they owe next month for an addition 90 days.
But the White House’s support of the cash payment idea, which has won backing from Democrats and some Republicans in Congress, shows how fast talks are evolving.

“Payroll tax is one way, but it does come over a period of months, many months,” Trump said Tuesday, speaking at a briefing of the administration’s coronavirus task force. "And we want to do something much faster than that. So I think we have ways of getting money out pretty quickly and very accurately.”
Some lawmakers, including Sen. Mitt Romney (R-Utah) have discussed direct cash payments of $1,000 to Americans, something the lawmaker discussed with Mnuchin Monday night.
“That’s one of the ideas we like,” Mnuchin said Tuesday, without endorsing a specific dollar amount. He suggested there should be an income cut-off on the cash payments and that high-income households might not be eligible.

White House expresses support for making immediate cash payments to Americans as part of coronavirus stimulus package White House expresses support for making immediate cash payments to Americans as part of coronavirus stimulus package Reviewed by Anson Moore on March 17, 2020 Rating: 5

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