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Mnuchin confirms plan for $1,000 cash payments to all Citizens.
One Grand checks within 3 weeks
(Source: AFP/ photo)
Treasury Secretary Steven Mnuchin said on Thursday the White House is working to send $1,000 checks to most adult Americans within three weeks to offset the coronavirus.
As soon as Congress passes this we'd get this out in three weeks, and then six weeks later, if the president still has a national emergency, we'll deliver another $3,000," Mnuchin said. Earlier in the week, Mnuchin had pointed to a two-week target to send out cash payments.
That portion would amount to half of the bill's overall spending.
Another $300 billion in the bill would be used to help businesses keep people on payroll and offer loan forgiveness for those that do after the crisis ends.
Already, unemployment claims have shot up by some 33 percent between the first two weeks of March.
A final $200 billion would be devoted to securing lending to airlines and other critical industries hit hard by the pandemic.
As soon as Congress passes this we'd get this out in three weeks, and then six weeks later, if the president still has a national emergency, we'll deliver another $3,000," Mnuchin said. Earlier in the week, Mnuchin had pointed to a two-week target to send out cash payments.
That portion would amount to half of the bill's overall spending.
Another $300 billion in the bill would be used to help businesses keep people on payroll and offer loan forgiveness for those that do after the crisis ends.
Already, unemployment claims have shot up by some 33 percent between the first two weeks of March.
A final $200 billion would be devoted to securing lending to airlines and other critical industries hit hard by the pandemic.
Americans have never received genuinely unrestricted cash before. The White House sent checks to Americans in 2001 and 2008 to address recessions at the time, but they were considered rebates to taxpayers.
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