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Trump Administration Announces Major Relief to Help American Working Families During Chinese Virus Crisis

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During a press conference today Treasury Secretary Steven Mnuchin announced major relief efforts which the Trump administration believes will provide major relief to American families who are being affected by the Chinese Virus outbreak crisis.

Secretary Mnuchin announced that IRS payments totaling three hundred billion dollars will be deferred, this will allow those who owe a tax payment up to one million dollars as individuals or ten million dollars in corporate tax to file on April 15th but have ninety days to pay and that all payments will be interest and penalty free and no extension is required

The Treasury Secretary also announced that President Trump’s administration is looking at ways to quickly put cash into the hands of American working families who are being affected by the outbreak.

Trending: VIDEO: Chinese Factory Worker Caught Contaminating Hundreds of Medical Face Masks

“Americans need cash now,” remarked the Secretary, “The President wants to get cash now. We’re looking at sending checks to Americans immediately…and I mean now, in the next two weeks.”

With this announcement it appears that the Trump administration is joining alongside of those in the Senate and the House of Representatives who have laid out plans to help cash strapped Americans.

On Monday both Senators Mitt Romney and Tom Cotton revealed stimulus plans that would send checks in the amount of $1000 to low and middle income Americans.  Last week Representative Tulsi Gabbard filed legislation in the House that would enact a universal basic payment of $1000 per American adult until the current pandemic is declared over by the Secretary of Health and Human Services.

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Putting America Back to Work, President Trump Calls for New $2 Trillion Infrastructure Bill

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President Trump on Tuesday said a historic investment in infrastructure and jobs should be part of a fourth congressional coronavirus relief package, citing an opportunity with the current Fed rate of near zero.

“With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4”, the President tweeted.

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The idea of a trillion dollar infrastructure deal is one of the earliest ideas that Trump campaign on back in 2016. In his 2018 State of the Union address the President called on the Congress to set aside $1.5 trillion for an infrastructure plan.

According to reports by the American Society of Civil Engineers more than $2 trillion in additional funding is needed for American infrastructure by 2025 alone. The World Economic Forum this year ranked the U.S. 13th in matters of infrastructure, according to its global competitiveness report. Nations listed higher included Singapore, Hong Kong, Switzerland, Japan, Korea, UAE, the Netherlands, and Spain.

House Speaker Nancy Pelosi, who is normally at odds with President Trump, said in an interview on Tuesday that broadband investments and water projects are examples of infrastructure that would be relevant to a fourth conornavirus response.

Although Trump’s plan has been met in the past with opposition from both members of the Republican Party and members of the Congress, the current situation of the American economy paired with the recent hostile takeover of part of the Fed Bank by the U.S. Treasury makes a favorable environment for such a bold investment.

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