Trump administration to ask Congress for $850 billion in coronavirus stimulus package
The Trump administration is reportedly asking Congress for $850 billion in an economic stimulus package amid the ongoing coronavirus crisis, aiming for it to be passed this week.
Treasury Secretary Steven Mnuchin is set to outline the proposed package, which will "provide relief for small businesses and the airline industry and include a massive tax cut for wage-earners," in a meeting with Senate Republicans on Tuesday, The Associated Press reports. This next phase of the coronavirus response comes after the House of Representatives on Monday passed its revised emergency bill that will be considered by the Senate and includes a provision expanding paid sick leave.
About $50 billion of the $850 billion the administration is seeking, The Washington Post reports, is expected to be directed toward the airline industry. The administration is reportedly looking for the stimulus package to be passed this week. Additionally, The New York Times reports that a "centerpiece of the proposal is the payroll tax cut that President Trump has been calling for."
But Politico notes that the payroll tax cut "faces uncertain prospects in Congress." In fact, a day after some in Congress including Sen. Mitt Romney (R-Utah) proposed sending every American adult $1,000 in response to the pandemic, Politico's Jake Sherman tweeted Tuesday, "I cannot believe I am writing this, but here it is: My reporting would indicate there's probably more bipartisan energy behind cutting $1,000 checks to people than enacting a payroll tax cut."
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