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IPFS News Link • Economy - Economics USA

Trump Seeks $850 Billion Stimulus Package, Stocks Rally

• https://moneymaven.io, by Mish

Everyone is seeking money and Trump is willing to dish it out to the tune of an $850 Billion Stimulus Package.

U.S. Treasury Secretary Steven Mnuchin is pitching Senate Republicans on a roughly $850 billion economic stimulus package, according to two people familiar with the matter, as the Trump administration works to craft more legislation to cushion the economic blow of the coronavirus pandemic.

Democrats have proposed their own $750 billion package for the third phase of the response, and other lawmakers have started floating a variety of measures, including giving $1,000 in cash to every American.

Bailouts

The Trump administration's stimulus plan will include roughly $50 billion for the airline industry, according to the people, as well as billions of dollars in general stimulus that could include a payroll tax cut.


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