US Treasury Secretary Steven Mnuchin hoped that Congress will reach an agreement on Sunday on a millionaire fiscal stimulus package aimed, among others, at small businesses and families to lessen the economic impact of the coronavirus.
“We hope to conclude today,” Mnuchin said in an interview with Fox News, about the conversations that are taking place in the Legislative.
Mnuchin considered that both Republicans and Democrats, as well as congressional leaders, have a “fundamental understanding” around the issue, so he said he expected the package to be approved on Monday.
The secretary anticipated, among other measures, loans for the small ones that keep their staff and a payment to the families, which in the case of the four members can reach $ 3,000.
Small businesses, he said, will be granted loans to maintain a cash flow for two weeks that will allow them to pay their workers, as well as cover general expenses.
Families will receive a direct deposit that the Treasury secretary described as a “bridge” so they can get around this situation. In addition, efforts will be made to improve unemployment insurance.
A fourth component seeks to guarantee liquidity, in order to inject some 4,000 million dollars into the economy.
“We need to get the money into the economy now,” said Mnuchin, who estimated a 10-12 week scenario for the plan’s implementation.
Last Tuesday, the government of President Donald Trump presented a huge fiscal stimulus package, which includes sending “checks” with cash to citizens “immediately.”
The US media have advanced that the tax package could exceed one trillion dollars – some 1.6 trillion dollars, according to some versions – between deferrals of the payment of taxes, assistance to especially affected sectors such as airlines or hotels, and the aforementioned delivery. of cash to citizens.
This plan would surpass the one launched to face the acute financial crisis of 2008 by the Administration of the then President, Barack Obama, of 700,000 million dollars.