Senate Democrats’ coronavirus bailout plan could give each American $4,500 – By Megan Henney (FOX Business) / March 19 2020
A family of four could receive as much as $18,000 in one year under the proposal
As Americans hunker down to mitigate the spread of the new coronavirus, the White House and Congress are weighing different stimulus options to offset the disease’s deepening impact on the U.S. economy.
One proposal that’s garnered surprising bipartisan support? Cash. Conservative and liberal economists largely agree that checks are an important stimulus measure to help individuals buy food, pay rent and survive the mass layoffs that are certainly coming.
On Tuesday, Treasury Secretary Steven Mnuchin gave the proposal its biggest endorsement yet, telling reporters during a White House press conference that the Trump administration is strongly considering sending out unrestricted cash amid a shutdown of a large swath of the economy. It’s unclear how money Mnuchin is suggesting sending, although some Republican senators, including Mitt Romney, have said they’d support a one-time payment of $1,000.
“Americans need to get cash now and the president wants to get cash now, and I mean now — in the next two weeks,” Mnuchin said Tuesday.
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