Trump Administration Releases Direct Cash Relief Plan to Help American Families
Today during an interview on the Fox Business channel, Secretary of the Treasury Steve Mnuchin released the Trump Administration’s plan to directly put cash into the hands of American families who are being harmed by the current Chinese Virus pandemic.
“This is an unprecedented situation, where for good reason the government has instructed major parts of the economy to close down so that we can win this fight against this virus,” remarked Secretary Mnuchin.
“We understand that there are impacts on hardworking Americans and the President is determined that we are going to support that. So we have announced a trillion dollar plan. The part of this is three hundred billion dollars that goes to small businesses. That money needs to go to hiring people, keeping people on the payroll, and if they do there will be loan forgiveness on that afterwards…The second component is, well I referred to it as ‘checks in the mail’ but it really is ‘money directly deposited’, the plan is five hundred billion dollars….a thousand dollars per person and five hundred dollars per child. So for a family of four that is a three thousand dollar payment and as soon as Congress passes this we can get it out in three weeks and six weeks later if the President still has a national emergency we will deliver another three thousand dollars.”
The President’s administration has made clear that direct payments would go to U.S. citizens only, and would be “tiered based on income level and family size.”
President Trump’s efforts to put cash directly into the hands of Americans who are being affected by the Chinese Virus outbreak has landed him some non-traditional allies; Andrew Yang who made Universal Basic Income the cornerstone of his presidential campaign said “I am thrilled that they are doing the right thing”, and Democratic Congresswoman from Hawaii Tulsi Gabbard said it is ‘good news’ that President Trump is speaking out in support of direct cash payment to every American.
The broadly supported bipartisan plan that is being led by President Trump for direct cash relief is finding some opposition, most recently from Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer.