The White House is seeking a stimulus package worth anywhere from $850 billion to more than $1 trillion as the Trump administration looks to battle the economic impact from the coronavirus pandemic, according to a source familiar with the matter.
Later Tuesday, Treasury Secretary Steven Mnuchin told GOP senators that unemployment could reach 20% if Congress doesn’t enact the stimulus package, according to a person familiar with the situation.
An administration official said the package could include:
- $500 billion to $550 billion in direct payments or tax cuts
- $200 billion to $300 billion in small business assistance
- $50 billion to $100 billion in airline and industry relief
Potentially $250…
Source cnbc.com