Trump Proposes Upto $1 Trillion For Stimulus Check-up On Coronavirus

The government’s economic stimulus is set to quickly balloon into trillion-dollar territory in the coming days, the largest rescue in modern American history, as major industries flood the Trump administration and Capitol Hill for aid while huge swaths of the economy stall from the coronavirus crisis.

Treasury Secretary Steven Mnuchin will meet with Senate Republicans behind closed doors on Tuesday to present lawmakers with options for aid to airlines, hotels, casinos and small-to-medium-sized businesses. The White House was pushing for a package of more than $800 billion, reported Monday, and on Tuesday the Treasury Department was preparing to unveil a package of $850 billion including more than $50 billion for the airline industry, $250 billion for small-business support and $500 billion for a payroll tax holiday. A senior administration official acknowledged the proposal could climb above that Tuesday by the time it’s unveiled.

The Trump administration is pushing to send direct payments to Americans in the next two weeks as huge parts of the economy shut down. “Americans need cash now,” Mnuchin said. “And the president wants to get cash now. And I mean now in the next two weeks.“ He planned to discuss the move with lawmakers and announce details later Tuesday.