The Trump administration is proposing two waves of checks to Americans, plus $500billion for small and large businesses to help Americans weather the coronavirus pandemic.
The administration is still discussing with Senate Republicans about the rescue package and specifics are likely to be announced next week.
Experts say such generosity is unprecedented. Congress hasn’t passed unrestricted cash before, and current proposals for checks are more inclusive of the poorer residents than the 2001, 2008, and 2009 stimulus checks were.
The two-page proposal from the Treasury Department on Wednesday (March 18) presented a list of priorities but nothing has yet been passed by Congress.
The federal government says it will be sending checks to most or all Americans–the questions being discussed are when, how much and to whom exactly?
Details of what’s been proposed:
Treasury Secretary Steve Mnuchin is reportedly suggesting tiered cash transfers of around $1,000 per adult and $500 per child to every household–one on April 6 and another on May 18.
Senate Democrats are suggesting $2,000 per American immediately, plus $1,500 in July and an $1,000 in October, if the emergency continues. People earning under $90,000 ($180,000 for couples) would qualify.
House Financial Services Chair Maxine Waters is proposing monthly checks of $2,000 per adult, plus $1,000 per child. The Federal Reserve would directly print the money.
Senator and presidential candidate Bernie Sanders is proposing monthly payments of $2,000 per American, with no reduction in child or means-tested benefits.
Mitt Romney suggested a one-time $1,000 check per adult.
Josh Hawley is proposing that families get between $1,288 and $2,206 per month, depending on their size. Single parents earning under $50,000 and married couples making under $100,000 would get full benefit. (Childless households would not qualify)
Tom Cotton is suggesting $1,000 per adult, and $500 per child or per elderly/disabled dependent, for people earning under $50,000.
Tim Ryan and Ro Khanna are proposing that Americans earning under $130,000 receive between $1,000 and $2,000 per month, initially for 6 months.
Ilhan Omar is suggesting $1,000 per adult, $500 per child monthly payments.
UK Government to Cover up to 80% of Wages
The British government has announced today (March 20) that it will pay up to £2,500 monthly for at least three months, for employees who cannot work due to the pandemic.
The announcement comes coupled with closures of the nation’s pubs and restaurants.