The Washington White House has announced on Tuesday that it is considering a $1 trillion economic package to be used to prevent the coronavirus outbreak. 25% of this economic package will be given to Americans by checks to combat the economic impact of the coronavirus outbreak.
Treasury Secretary Mr. Mnuchin Claimed, “We have to find a way to compromise how to put $1 trillion inside the economy.” He made this claim on Capitol Hill after meeting the Senate Republicans to discuss the plan of the White House.
Mnuchin continued to explain that all of this sum of money is a combination of direct checks that will go to individuals and it is also a combination of liquidity for local businesses.
The White House came up with the idea of this kind of plan during a news conference earlier this week.
Because of the outbreak, a lot of jobs and institutions are closed. This means that people are unable to get paid to continue living normally. Mnuchin said that Americans require cash right away.
Trump also accepted the plan saying that sending checks to each individual will be challenging but at the end of the day a fast efficient way will be found to deliver these checks.
For the moment it is still unclear who will get money and how much money will they get. Mr. Mnuchin claimed that the most amount of help will be sent to the people that were more affected by the outbreak.
He made it clear that it was not necessary for people that made over $1 million a year to receive a check. Suffering people and people that have medical emergencies need it more in this time of crisis.
On Monday the senator Mr. Romney proposed that it would be a good idea giving every individual that has passed the age of 18, $1000 to help with the finances
While the Senate of Democrats Held by Michael Bennett said that it would be a better idea to send upwards $4500 to each American.
Republican Ilhan Omar proposed that each adult should be given $1000 and an additional $500 per every child they have.
In these hard times, we all need to come together and help each other. A global outbreak is something to be taken seriously to prevent it from spreading. Taking precautions such as this will just give us the strength we need to get through.