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Treasury Secretary Confirms Details of Checks for Americans: Up to $2,000 Per Adult, $1,000 Per Child

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Treasury Secretary Steven Mnuchin announced Thursday the Trump administration is supporting a $1 trillion coronavirus response package that includes up to $2,000 being sent to American adults and $1,000 per child.

Mnuchin explained on Fox Business Network the cash would go out in two phases, with $1,000 per adult and $500 per child being sent out in a matter of weeks. A family of four, including two parents and two children, would thus get $3,000 right off the bat.

“As soon as Congress passes this we’d get this out in three weeks, and then six weeks later, if the president still has a national emergency, we’ll deliver another $3,000,” Mnuchin said.

The treasury secretary justified the action, saying, “This is an unprecedented situation, where for good reason the government has instructed major parts of the economy to close down so that we can win this fight against this virus.”

“While we’re doing that, we understand there are impacts on hard-working Americans, and the president is determined that we are going to support them,” he added.

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The price tag for the two tranches of direct payments to Americans would be $500 billion.



Asked during a Tuesday news conference if there will be income restrictions regarding who gets the checks, Mnuchin responded, “I think it’s clear, we don’t need to send people who make a million dollars a year checks.”

The administration is also seeking $300 billion to assist small businesses in keeping people employed.

Do you support the plan to send payments to Americans?

“That money needs to be used for hiring people, keeping people on the payroll, and if they do, there will be loan forgiveness on that afterwards,” Mnuchin said.

Finally, $200 billion would go to assisting the airlines and other industries that are most impacted by the coronavirus outbreak.

On Wednesday, President Donald Trump signed the Families First Coronavirus Response Act.

The legislation includes paid sick leave benefits, enhanced unemployment benefits and free testing for the coronavirus.

On Thursday, Trump announced the Food and Drug Administration is making drugs used to treat malaria available “almost immediately.”

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The drug chloroquine has shown promising results when used for treatment of coronavirus patients overseas.

The major stock indices were up on Thursday after experiencing steep declines on Wednesday.

At a news conference on Tuesday, Trump predicted the economy will “pop” when the coronavirus outbreaks ends.

“One day we’ll be standing possibly up here, we’ll say, ‘Well, we won,’” the president said. “As sure as you’re sitting there, we’re going to say that. … I think we’re going to win faster than people think, I hope.”

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Randy DeSoto has written more than 2,000 articles for The Western Journal since he joined the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book "We Hold These Truths" and screenwriter of the political documentary "I Want Your Money."
Randy DeSoto is the senior staff writer for The Western Journal. He wrote and was the assistant producer of the documentary film "I Want Your Money" about the perils of Big Government, comparing the presidencies of Ronald Reagan and Barack Obama. Randy is the author of the book "We Hold These Truths," which addresses how leaders have appealed to beliefs found in the Declaration of Independence at defining moments in our nation's history. He has been published in several political sites and newspapers.

Randy graduated from the United States Military Academy at West Point with a BS in political science and Regent University School of Law with a juris doctorate.
Birthplace
Harrisburg, Pennsylvania
Nationality
American
Honors/Awards
Graduated dean's list from West Point
Education
United States Military Academy at West Point, Regent University School of Law
Books Written
We Hold These Truths
Professional Memberships
Virginia and Pennsylvania state bars
Location
Phoenix, Arizona
Languages Spoken
English
Topics of Expertise
Politics, Entertainment, Faith




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