The government is trying to help families deal with the economic fallout of the coronavirus-related shutdown of several industries
As the entire world grapples with the fallout of the coronavirus outbreak, families and individuals may find themselves struggling with more than serious health concerns. Businesses are shutting down in an effort to stop the spread of the virus and that means employees are being laid off, hours are being reduced, and many Americans in certain industries are about to find themselves with either no income or far less income than usual. The federal government is recognizing this urgent issue and has proposed an aid package including stimulus checks that could help net a family of four a crucial $3,000.
The Trump administration proposed to Congress the $1 trillion relief plan to help households and the economy amid the coronavirus outbreak. Because bills and expenses won’t stop just because the world has. Treasury Secretary Steven Mnuchin said today that “checks in the mail” could be direct-deposited into the accounts of Americans under the newly-proposed plan to help the country weather the economic crisis created by the coronavirus pandemic.
The proposed payments would amount to $1,000 per adult and $500 for each child, so a family of four could expect $3,000 under the proposed plan. In six weeks, if the national emergency is still in place, families would receive another check under the plan. Officials have stated that the money will be distributed by income level and won’t include the super wealthy. “As soon as Congress passes this we’d get this out in three weeks, and then six weeks later, if the president still has a national emergency, we’ll deliver another $3,000,” Mnuchin said.
“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,” Mnuchin said during an appearance on Fox Business. “While we’re doing that, we understand there are impacts on hard-working Americans, and the president is determined to support them,” he said.
The rest of the $1 trillion package would include money to help businesses keep employees on payroll during the shutdown and offer them loan forgiveness. It would also help secure airlines and other industries hit especially hard by the pandemic-related shutdown.
Trump has also invoked authority to speed up creation of more medical supplies and the building of temporary field hospitals. “There is not a day to lose,” House Speaker Nancy Pelosi said in a statement Thursday. “We must put more testing, more protective equipment and more ventilators into the hands of our frontline workers immediately.”
This is in addition to the bill Trump recently signed into law promising $100 billion-plus to help cover paid sick leave for workers in need and more testing for the virus.