(Tea Party PAC) – Treasury Secretary Steve Mnuchin on Thursday announced further details of the Trump administration’s plans to issue checks to every individual and household in the United States.
During an appearance on Fox Business Network, Mnuchin explained that the money would be issued in two phases and include $1,000 per adult and $500 per child being sent to Americans in a matter of weeks.
So, a family of four with two parents and two children would get $3,000 right off the bat.
“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.
He continued, explaining “This is an unprecedented situation, where for good reason the government has instructed major parts of the economy to close down so that we can win this fight against this virus.”
“While we’re doing that, we understand there are impacts on hard-working Americans, and the president is determined that we are going to support them,” he added.
The total cost to the federal government’s coffers would be $500 billion.
During a Tuesday news conference, Mnuchin was asked if there would be any restrictions on who might get the check based on income.
Mnuchin responded, “I think it’s clear, we don’t need to send people who make a million dollars a year checks.”
The administration also aims to apply $300 billion to assisting small businesses so they may continue to keep people employed.
“That money needs to be used for hiring people, keeping people on the payroll, and if they do, there will be loan forgiveness on that afterwards,” Mnuchin said.
Additionally, $200 billion would be aimed at assisting the crippled airline and other travel industries most impacted by the coronavirus pandemic.
President Donald Trump signed the Families First Coronavirus Response Act on Wednesday.
The legislation includes paid sick leave benefits, enhanced unemployment benefits, and free coronavirus testing.
The Food and Drug Administration is working to make drugs used to treat malaria available “almost immediately,” Trump announced on Thursday.
WND notes that “The drug chloroquine has shown promising results when used for treatment of coronavirus patients overseas.”
On Thursday, major stock indices were up after a sharp decline on Wednesday.
Trump noted that he expects the economy to “pop” once the outbreak is over.
“One day we’ll be standing possibly up here, we’ll say, ‘Well, we won,’” the president said. “As sure as you’re sitting there, we’re going to say that. … I think we’re going to win faster than people think, I hope.”