Donald Trump wants to send cash to Americans suffering from the coronavirus crisis immediately he said at the White House Tuesday.
‘The payroll tax holiday would get money to people over the next six to eight months. We’re looking to send checks to Americans immediately,’ explained Treasury Secretary Steven Mnuchin in the press briefing room. ‘Americans needs cash now and the president wants to give cash now.’
‘And I mean now – in the next two weeks,’ Mnuchin added.
Precise details weren’t announced at the press conference.
Mnuchin said he was previewing the plan with Capitol Hill Republicans and would reveal more later, but he suggested the amount could be more than $1,000. There would also be some income cut-offs. ‘You don’t need to send people who make a million dollars a year checks,’ he said.
Trump said of his administration’s stimulus plans: ‘We’re going big.’
The economy has spiraled since the coronavirus outbreak reached American shores. In Ohio alone, unemployment claims went from 6,500 last week to 45,000 this week, according to numbers given to reporters by Sen. Rob Portman’s office.
President Trump (left) and Treasury Secretary Steven Mnuchin (right) said Tuesday they wanted to send Americans checks to keep the economy going amid the coronavirus outbreak
President Trump said he wanted to get cash in the hands of Americans immediately at a press conference at the White House Tuesday
Sen. Mitt Romney, R-Utah, said Monday he supports giving $1,000 each month to working Americans during the crisis
Beyond giving cash to Americans, Mnuchin said tax payments can also be deferred.
The White House sped up its embrace of a universal basic income-like stimulus after economic adviser Larry Kudlow told DailyMail.com Monday said the administration ‘might’ get behind new proposals to give cash to American households.
Utah Republican Sen. Mitt Romney on Monday announced that he was for a plan to give American workers $1,000 each month during the outbreak.
‘We also urgently need to build on this legislation with additional action to help families and small businesses meet their short-term financial obligations, ease the financial burden on students entering the workforce, and protect health workers on the front lines and their patients by improving telehealth services,’ the Utah senator said in a statement, the Salt Lake Tribune reported.
‘I will be pushing these measures as Senate discussions continue about an additional relief package,’ he added.
‘We might’: Director of the National Economic Council Larry Kudlow said the Trump administration might get behind new proposals to give cash to American households.
Former Democratic presidential candidate Andrew Yang campaigned on giving $1,000 each month to every American
Now-former Democratic presidential candidate Andrew Yang made cash payment to Americans central to his run. Yang was promoting the concept of universal basic income and said Americans should get $1,000 a month – $12,000 annually – to keep people out of poverty.
He also said the policy would help alleviate the effects of automation, which will cost American jobs.
He dubbed his payment the ‘freedom dividend.’
Yang, now a CNN commentator, reacted to the White House’s proposal Tuesday.
‘Well, I’m thrilled that we’re doing the right thing. It’s vital to help tens of millions of American families keep their heads above water at this time,’ Yang said. ‘So getting cash into America’s families hands is 100 per cent the right move.’
Yang suggested that American adults get $1,000 a month, and if they have children an additional $500 per child.
Yang also revealed that his team and been working with the White House to provide them with studies on what cash-in-hand proposals could accomplish.
Rep. Alexandria Ocasio-Cortez – one of the most progressive members of Congress – reacted positively to the White House’s proposal, but she also suggested that student loan payments be postponed.
‘Now we must suspend student loan payments,’ she tweeted Tuesday. ‘Suspending interest does nothing if people still have to pay out the same amount in principal. We need to suspend student loan *payments* for 3-6 months to give people wiggle room to afford food & necessities.’