US mulling ‘sending checks to Americans immediately’ amid covid-19 pandemic
The United States is considering “sending checks to Americans” amid the economic recession caused by the coronavirus pandemic.
Treasury Secretary Steven Mnuchin made the announcement Tuesday, adding that the initiative would take effect in the next two weeks.
“You can think of this as something like business interruption payments for the American workers,” Mnuchin told reporters at the White House. “Although the president likes the idea of the payroll tax holiday … we’re looking at sending checks to Americans immediately… And I mean, now in the next two weeks.”
Treasury Secretary Steven Mnuchin: "We absolutely believe in keeping the [stock] markets open, okay? Americans need to know they have access to their money." pic.twitter.com/SZInjeMGOS
— The Hill (@thehill) March 17, 2020
Senate Democratic leader Charles Schumer proposed Monday for an initiative to put money "directly into hands of American people," an idea also promoted by Utah Republican Senator Mitt Romney, who called for giving $1,000 to every American adult to combat the coming recession.
US President Donald Trump also addressed the issue at the press briefing.
“There are some very good ways of getting the money out and getting it out quickly,” he said.
The world is at war with a hidden enemy. WE WILL WIN!
— Donald J. Trump (@realDonaldTrump) March 17, 2020
The president added later that the option of a payroll tax cut was also on the table.
“We’re looking at payroll tax and we’re looking at other various forms of getting money to people,” Trump said. "We don’t really have months."
Mnuchin first needed to brief Senate Republicans on the proposal for the initiative to advance.
“I think it’s clear we don’t need to send people who make a million dollars a year checks, but that’s one of the ideas we like,” the treasury secretary said. “We’re going to preview that today and we’ll be talking about details afterwards… We look forward to having bipartisan support … to pass this legislation very quickly.”
The announcement came in the backdrop of criticism directed towards the Trump administration over its response to the latest outbreak.
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