First Details of Trump’s Economic Package Includes $500 Billion for Taxpayers

The Trump administration Wednesday provided details of a $1 trillion economic package with $500 billion set aside for direct payments to taxpayers to offset the economic turmoil caused by coronavirus.

President Trump asked federal agencies to hold off on all foreclosures and evictions until the end of April, according to The New York Times. The government will also offer $500 billion in loans for businesses affected by the pandemic. 

“Now it’s our time,” Trump said at a news conference. “We must sacrifice together because we are all in this together, and we will come through together. It’s the invisible enemy.”

Earlier this week, Treasury Secretary Steven Mnuchin privately told Republican senators that the checks should go out in April to cover two-weeks pay. More checks may be distributed if conditions don’t improve.