President Trump will be sending checks to American adults to help them while the ongoing coronavirus continues to keep many places closed.

During a presser at the White House on Tuesday morning, Treasury Secretary Steven Mnuchin said Americans can expect these checks very soon.

“Americans need cash now,” Mnuchin said per Axios. “And I mean now — in the next two weeks.”

Almost immediately, Munchin was asked by a reporter how much money people can expect to receive.

While he did not specify a figure, the treasury secretary said he would be “previewing” a figure with Republican members of Congress. He hinted it would be larger than the figure currently being floated in mainstream media.

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This could be a reference to a plan pitched by Republican Senator Mitt Romney who floated $1,000 per month to every adult throughout the coronavirus.



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From Axios:

What he’s saying:

  • It’s still unclear who would get money and how much, but Mnuchin indicated that it would be aimed towards those most hurt by the coronavirus outbreak.
  • “We don’t need to send people who make a million dollars a year checks,” Mnuchin said.
  • Some on Capitol Hill and liberal and conservative economists have called for direct government payments of $1,000 to every American adult. Mnuchin said the amount of each check “may be a little bit bigger than whats in the press.”

Other highlights:

  • Mnuchin also announced that the government will defer up to $300 billion in tax payments, allowing individuals to defer up to a million dollars and corporations to defer up to $10 million for corporations — interest-free and penalty-free for 90 days.

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  • Mnuchin said that the the administration intends to keep financial markets open, but shorter hours may be necessary