The Trump Administration Plans to Send Direct Checks to Americans Within Two Weeks

On Tuesday, the Trump administration represented by Steven Mnuchin, the Treasury Secretary Said that the administration has decided to send direct payments to millions of Americans in the US within the next two weeks. This move taken by the Trump administration is a strategy the government intends to use as a way to help mitigate the financial and economic impact of the outbreak.

The plan is to make direct cash payments of $250 billion to Americans within the first two weeks of April, and send out another $250 billion dollars in May if the pandemic continues and the economy continues to suffer. In a press conference with the president. Mnuchin says that “Americans need cash now and the president wants to give cash now. And I mean now, in the next two weeks.” Although no specific amount was given, Sen. Mitt Romney (R- Utah) suggested that a check of $1,000 be sent out to every adult American as a one-time payment.   Former Democratic presidential candidate, Andrew Yang also shows support for this amount by rooting that every adult American gets $1,000 in check and an additional $500 per child.

In a statement, Romney further added that “we also urgently need to build on this legislation with additional action to help families and small businesses meet their short-term financial obligations, ease the financial burden on students entering the workforce, and protect health workers on the front lines and their patients by improving telehealth services.”

Mnuchin also emphasized that the checks were not going to be sent to every American. “We don’t need to send money to people who make million dollars a year checks.”

Former Democratic presidential candidate, Andrew Yang, reacted to the Trump administration economic stimulus move by saying, “I’m thrilled that we’re doing the right thing. It’s vital to help tens of millions of American families keep their heads above water at this time… so getting cash into America’s families' hands is 100 percent the right move.”

While this financial strategy of sending money to Americans is in place, Bloomberg also reported on Tuesday that the Trump administration was yet again putting into consideration pumping $1.2 trillion into the economy to fight the effects of the coronavirus on the economy. It would be a combination of loans and direct checks.

Mnuchin also said a stimulus plan was being developed—one that would include payments to small businesses and loan guarantees to industries that are severely affected like airlines and hotels. He further said he was previewing the plans with the Republicans at Capitol Hill, but would disclose the details of the plans once the meeting with the Republicans had been concluded.

Concerning tax payments to the federal government, individuals would be allowed to defer up to $1 million while businesses can defer up to $10 million with no penalty and interest charges for 90 days.