Economy

Trump seeks $1 trillion stimulus, including direct payments to Americans

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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

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