GATEWAY PUNDIT, by Eric A. Blair — March 18, 2020
Excerpt:
The Treasury Department on Wednesday said it wants to start issuing direct payments to Americans of $1,000, with the first checks issued starting April 6 and a second wave some time in mid-May.
The checks, which will go to many Americans, will cost the federal government $500 billion.
“The Treasury plan, which requires approval by Congress, also recommends $50 billion to stabilize the airlines, $150 billion to issue loan guarantees to other struggling sectors, and $300 billion to for small businesses. The plan appears to anticipate that some of the loans would not be repaid,” the Associated Press reported.
The details are for the third coronavirus response bill that lawmakers hope to pass next week. Direct payments would go to U.S. citizens only, and would be “tiered based on income level and family size.” The two payments would be identical, with the second wave starting by May 18.
Treasury Secretary Steven Mnuchin said the full stimulus package to shore up the economy is expected to top $1 trillion.
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