Trump Administration Seeks $850 Billion in Stimulus Package
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From the Right
White House pitching massive coronavirus relief bill to Congress
Treasury Secretary Steven T. Mnuchin is expected to meet with Senate Republicans Tuesday to discuss an $850 billion coronavirus relief package including aid for hard-hit industries.
White House aides say the package could include more than $50 billion for airlines, about $500 billion in payroll tax cuts and $250 billion or more in Small Business Administration loans.
The U.S. airline industry said it has lost about one million passengers in the first two weeks of March alone, compared with the same period a year ago.
President Trump said Monday the...
From the Center
Trump to propose $850B stimulus for coronavirus response
The Trump administration will seek approval of a roughly $850 billion emergency stimulus package from Congress in order to ease the economic impact of the coronavirus, a senior administration official confirmed on Tuesday.
The development was first reported by The Washington Post.
The senior administration official stressed that the proposal is a tax proposal, not a spending stimulus as Senate Minority Leader Charles Schumer (D-N.Y.) is proposing. The Post reported that the stimulus package could include a payroll tax cut and is expected to include about $50 billion to help...
From the Left
Trump administration seeks roughly $850 billion in emergency stimulus to confront coronavirus economic fallout
The Trump administration is asking Congress to approve a massive economic stimulus package of around $850 billion to stanch the economic free fall caused by the coronavirus, four officials familiar with the planning said Tuesday.
Treasury Secretary Steven Mnuchin will present details to Senate Republicans later Tuesday. The package would be mostly devoted to flooding the economy with cash, through a payroll tax cut or other mechanism, two of the officials said, with some $50 billion directed specifically to helping the airline industry.
White House officials also want to include...
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