How will you spend your $500 Billion given to Americans by the treasury? At first, I heard Americans were getting free money soon from Trump giving $1,000 dollars but now the number being reported is 500 Billion Dollars!!
The Department of the Treasury wants to start out issuing direct payments to Americans by early next month because the centerpiece of a $1 trillion decide to stabilize the economy because the coronavirus epidemic threatens a body slam to taxpayers and businesses.
In a memorandum issued Wednesday, Treasury is looking for 2 $250 billion cash infusions to individuals: a primary set of checks issued starting April 6, with a second wave in mid-May. The amounts would depend upon income and family size.
The Treasury plan, which needs approval by Congress, also recommends $50 billion to stabilize the airlines, $150 billion to issue loan guarantees to other struggling sectors, and $300 billion to for little businesses. The plan appears to anticipate that a lot of of the loans wouldn’t be repaid.
The Trump administration is pushing to send direct payments to Americans within the next fortnight as huge parts of the economy pack up . “Americans need cash now,” Mnuchin said earlier within the White House briefing room. “And the president wants to urge cash now. and that i mean now within the next fortnight .“ He planned to debate the move with lawmakers and announce details later Tuesday.