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March 17, 2020 at 10:21 AM
Treasury Secretary Steven Mnuchin is seeking a coronavirus-related economic stimulus package worth more than $850 billion and plans to take the measure to Senate Republicans on Tuesday, according to news reports.
Mnuchin told House Republicans on a conference call Monday that the market needs more liquidity, according to Bloomberg. After the call, Mnuchin met with Senate Majority Leader Mitch McConnell, Bloomberg reported.
Mnuchin is also weighing ideas to help small businesses, including postponing the due date for quarterly tax payments, and options for fast cash loans, Bloomberg reported.
The Trump administration’s stimulus plan will include roughly $50 billion for the airline industry, The Wall Street Journal reported, as well as billions of dollars in general stimulus that could include a payroll tax cut.
