If Treasury Secretary Steve Mnuchin is correct, today could be the day a new stimulus package will be passed to help fight the economic strain caused by coronavirus.
The bill could bring as much as $3000 to the average family of four.
Treasury Secretary Steven Mnuchin said the stimulus bill being negotiated in Congress to help offset the devastating effects of the coronavirus on the economy includes checks or direct deposits to Americans and enhanced unemployment benefits.
He said Democratic and Republican lawmakers are considering four components to the trillion-dollar package, and that President Trump is determined to protect American workers.
“The first part are what I call small business retention loans. If you’re a small business, you’ll get two weeks of cash flow to pay your workers. You’ll also get some overhead, and if you do that, your loans will be forgiven,” he said on “Fox News Sunday.”
“That will allow small businesses to keep people and make sure when the economy stabilizes, they are up and running,” Mnuchin said.
The second part sending a family of four an average “direct deposit or check” of about $3,000 — “a bridge for them to get through this quickly.”
The third is enhanced unemployment, and the fourth is $4 trillion in “support liquidity” to boost the economy that would come through the Federal Reserve.
Mnuchin also said the plan includes about $110 billion for hospitals and medical professionals who are on the front lines of the coronavirus fight.
Asked by host John Roberts how quickly this jolt to the economy can happen, Mnuchin said he “hopes this gets passed on Monday.”