The Trump administration announced Tuesday that it will send Americans $250 billion worth of checks to alleviate the impact of a recession associated with coronavirus.
The relief is part of a $1 trillion-dollar package to stimulate the U.S. economy, according to The New York Times. President Trump asked Congress to pass the stimulus quickly as employers start to lay off workers in the wake of the pandemic.
“We want to go big,” President Trump said at a news conference at the White House.
Treasury Secretary Steven Mnuchin did not stipulate the amount Americans could expect delivered in their checks, but that “it is a big number.” The White House noted that the checks would not go to high earners, like individuals making $1 million or more.
Mnuchin privately told Republican senators at a lunch that the checks should go out by the end of April to cover two-weeks pay. More checks may be distributed if conditions don’t improve. Mnuchin also noted that without government intervention, the unemployment rate may hit nearly 20%.