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Covid-19 impact: US discussing huge stimulus package
TIWN
Covid-19 impact: US discussing huge stimulus package
PHOTO : TIWN

Washington, March 17 (TIWN) US Treasury Secretary Steve Mnuchin on Tuesday said that the Trump administration is working on a big economic stimulus package, reported to be worth some $850 bn.

In a brief statement before the press corps, the president hinted at a possible payroll tax cut and emergency support for businesses looking to guarantee that hourly workers are protected from job loss and lost wages as social distancing becomes recommended practice in response to the spread of COVID-19.  “We’re going to be talking about hourly wage earners getting help so that they can be in a position where they’re not going to miss a paycheck,” the president said. “So that they don’t get penalized for something that’s not their fault.”  Trump intends to speak with representatives of the Small Business Administration to create potential loans for small businesses affected by response efforts from federal, state and local governments.  “This is about providing proper tools and liquidity to get through the next few months,” said Treasury Secretary Steven Mnuchin, at the briefing.

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