Treasury Proposal: Deliver $500B to Americans Starting April
WASHINGTON (AP) — The Treasury Department wants to start issuing direct payments to Americans by early next month as the centerpiece of a $1 trillion plan to stabilize the economy amid the coronavirus epidemic.
In a memorandum issued Wednesday, Treasury is calling for two $250 billion cash infusions to individuals: A first set of checks issued starting April 6, with a second wave in mid-May. The amounts would depend on income and family size. The Treasury plan, which requires approval by Congress, also recommends $50 billion to stabilize the airlines, $150 billion to issue loan guarantees to other struggling sectors, and $300 billion to for small businesses.
(Story written by LISA MASCARO, ZEKE MILLER and ANDREW TAYLOR)