Hopefully more details soon about the economic relief packages and specifically the checks to individuals.... a couple of snippets below
The Trump administration is seeking $250 billion in payments to Americans starting April 6, followed by another $250 billion cash payment round beginning May 18, according to the working draft of the plan obtained by Fox Business Network.
The two payments to taxpayers would be identical and the amounts would vary by family income and size, according to the Treasury Department document on the "Stage Three" coronavirus proposal.
The Washington Post first reported the document.
Mnuchin said adults would receive an immediate payment of $1,000 and children would receive $500 under the current proposal. A family of four would receive as much as $3,000. If the crisis is still ongoing in six weeks, Mnuchin said, the federal government will deliver another round of checks worth the same amount of money.
"That's a lot of money to hard-working Americans who are at home," Mnuchin said.
It's unclear what the income threshold will be for Americans to qualify for the checks. However, according to the Hill, Senate Republicans are reportedly considering making the limit $75,000 for individuals and $150,000 for couples.
“I think it’s clear we don’t need to send people who make a million dollars a year checks,” Mnuchin said earlier this week.
The Trump administration is seeking $250 billion in payments to Americans starting April 6, followed by another $250 billion cash payment round beginning May 18, according to the working draft of the plan obtained by Fox Business Network.
The two payments to taxpayers would be identical and the amounts would vary by family income and size, according to the Treasury Department document on the "Stage Three" coronavirus proposal.
The Washington Post first reported the document.
Mnuchin said adults would receive an immediate payment of $1,000 and children would receive $500 under the current proposal. A family of four would receive as much as $3,000. If the crisis is still ongoing in six weeks, Mnuchin said, the federal government will deliver another round of checks worth the same amount of money.
"That's a lot of money to hard-working Americans who are at home," Mnuchin said.
It's unclear what the income threshold will be for Americans to qualify for the checks. However, according to the Hill, Senate Republicans are reportedly considering making the limit $75,000 for individuals and $150,000 for couples.
“I think it’s clear we don’t need to send people who make a million dollars a year checks,” Mnuchin said earlier this week.
