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Breaking: Mnuchin Says Government Wants to Send Stimulus Checks

Published 03/17/2020, 12:06 PM
Updated 03/17/2020, 12:08 PM
© Reuters.

Investing.com - The U.S. federal government is looking to get cash into the pockets of Americans as fast as possible to cushion an economy hit by Covid-19, Treasury Secretary Steven Mnuchin said Tuesday.

“(W)e’re looking to send Americans checks now,” Mnuchin said, adding that that would preferably be within two weeks. He said details would come later after discussions with Congressional Republicans.

President Donald Trump likes the idea of a reduction of a payroll tax, but he and Mnuchin said that wouldn’t have an impact soon enough as damage of the virus continues.

"We're going big," Trump said.

"We don't want people losing their jobs or not having money to live when they were doing very well just four weeks ago," he added.

Investors cheered the remarks as the S&P 500 continued to climb, gaining 6% to an intraday high.

Latest comments

just send us the ink and paper. we will print it ourselves
Thanks commie Chinese for this disaster. Make em pay Trump!
Problem?. How to determine how much and who gets enough. Mortgage companies and utilities have to give payment holidays etc. What about the family of 4 vs the family of eight.Yes it sounds like Socialism, but how else is the individual can survive without businesses being opened etc.
And Trump pillories Bernie for being a socialist?  This is socialism at its finest.  GO BERNIE.
no bernie! but yes this is socialist
gibbs me dat corona check
I'm thinking a 12 pack of toilet paper. And also a 12 pack of beer. American beer and tp of coarse.
Lmao love it!
$5000 stimulus check minimum for every single American! don't insult us with a few hundred dollars like the fed stimulus of 2007 which was $300.
$10,000
$5,000 is good for every American family that has filed a tax return in 2018 $2,000 per adult and $1,000 per child
too early!
I wish we had competent leadership.... Trump's been a joke from the start.
Why not? They've been bailing out farmers, corporate and small, for 3 years now, to the tune of 50 billion.
50 billion is nothing over the course of a few years for our government
Its a drop in the bucket compared to massive bailaouts coming to corporations that wasted years of cheap money in corporate buybacks of its own stock and paying themselves handsomly. Glad at least the conversation started to help the most vulnerable
Why not? They've been bailing out farmers, corporate and small, for 3 years now, to the tune of 50 billion.
It would appear that it might do more than Obama's shovel ready jobs did.
For once I agreed with this initiative. Everyone gets a small sum, it's not going to be huge amount of money individuals will receives but given the difficulties to carry this out means they do CARE!!
Trump doesn't care and neither does the Treasury Secretary. He's trying his best to garner votes and favor.
The word you're looking for is BAILOUT Thank you
The word you're looking for is BAILOUT Thank you
this sounds a little like socialism
More precisely, it sounds like a bazooka whose target is faultless Mr. & Ms. Joe & Jane America this time, rather than corporations.
if socialism meant they bail out corporations would u be for it?
where's yang?
The right guy in the right place at the right time.... thank god for donald.....
Ben Bernanke is smiling right now
Here is some small pittance for you but remember to claim it as 2020 income for tax purposes.
HiMe, the commies are with you !
is it fair to supporting the sticks and airplanes by the people money? airplanes companies made huge profits for a decade now, when it is hard time for the investors our president is jumping to support them with the people's money?
Of course its not fair. Have you ever tried to get a last kinute flight.. theyll ***you on the price and take advantage for you. Why should we cough up money, that could go else where to stimulate the economy, for companies that take aevantage of us when were in need
Helicopter money here we go
how about stop all creditors from collecting right now? mortgages, rent, all loans on pause until we back up and running. that would help more than checks but Banks need their money first I guess
then the government will have to issue the checks to the creditors...
and then the creditors will still want money from the consumers.
"I'd gladly pay you Tuesday for a hamburger today."
money with no production: prepare yourself for hyperinflation
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