“The Trump administration is asking Congress to approve a massive economic stimulus package of around $850 billion to stanch the economic free-fall caused by the coronavirus,” the Washington Post reports.
“Treasury Secretary Steven Mnuchin will present details to Senate Republicans later Tuesday. The package would be mostly devoted to flooding the economy with cash, through a payroll tax cut or other mechanism, with some $50 billion directed specifically to helping the airline industry.”
“The $850 billion package would come in addition to another roughly $100 billion package that aims to provide paid sick leave for impacted workers, though the details of that legislation remain very fluid as it moves through Congress.”
Playbook: “Sometimes — and it’s not often — members of Congress decide to go big and move quickly with a breakneck speed that’s hard to fathom. That may be happening right now with the Phase Three stimulus.”Save to Favorites