To stimulate a flagging economy amid the coronavirus pandemic, President Donald Trump said Tuesday that his administration is “going big” by sending out checks directly to Americans.
During the daily briefing with the White House’s coronavirus task force, Treasury Secretary Steven Mnuchin said more details are coming, but suggested the amount of money in the checks could be larger than previously reported.
“The [proposed] payroll tax holiday would get people money over the next six to eight months. We’re looking at sending checks to Americans immediately,” Mnuchin said.
“And what we’ve heard from hardworking Americans is many companies have shut down, whether it’s bars or restaurants. Americans need cash now, and the president wants to get cash [out] now. I mean now: in the next two weeks.”
The Trump administration seems to be abandoning the payroll tax cut that it has advocated since last week, because it would not infuse cash into the economy quickly enough when businesses are closing temporarily and the travel and hospitality industry face hardship, leading to workers losing hours if not their jobs.
Asked about $1,000 checks to each American, as Sen. Mitt Romney, R-Utah, has proposed, Mnuchin said: “I think it’s clear, we don’t need to send people who make $1 million a year checks.”
Trump, referring to coronavirus as “this invisible enemy,” said the goal is to get money to working Americans as quickly as possible.
“Obviously, some people shouldn’t be getting checks for $1,000,” Trump said. “We’ll have a pretty good idea by the end of the day what we’re going to do.”
The president said there are four different ways to do it.
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