Listen to this articleThe treasury secretary of Trump administration, Steven Mnuchin said the president needs to immediately deliver checks of $1,000 to Americans. He said the move would slowdown to help fight against widespread Covid-19 coronavirus in the light of current U.S economic condition. Mnuchin was speaking during a press conference, he said, “The White House was seeking at sending checks immediately to Americans would amount at least $1,000. The Trump administration hasn’t yet officially confirmed the move. Mnuchin said during White House press briefing that President Trump instructed him they have to do. He didn’t provide more details but said the amount will be specific and millionaires will not be able to get it.
Mnuchin said, “We want to make sure Americans get money in their pockets quickly”. Point to be noted that the U.S stock market rose on Monday after a primitive drop. On Tuesday, the White House asked U.S Congress for the approval of an emergency rescue package to support taxpayers and businesses with the economic crisis linked with the widespread Covid-19 coronavirus. Mnuchin also outlined that a package of at least $850 Billion is essential. He delivered his words during a private lunch with officials and Senate Republicans looking to have Congress approve it during the current week.
The Majority Leader in the U.S Senate, Mitch McConnell said the Senate has promised swift actions. He said, “The Senate will not adjourn until we have passed significant and bold new steps above and beyond what the House has passed to help our strong nation and our strong underlying economy weather this storm”. The White House proposal designed to provide a massive tax cut for wage-earners and at least $50 billion as a relief for the small businesses and U.S airline industry. The supposed amount is larger than the 2008 bank bailout or the 2009 recovery act.
Recent Comments