Treasury proposal: Deliver $500B in checks to millions of Americans, first round coming April 6
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.
US suspends all foreclosures, evictions til May
Trump says the Department Housing and Urban Development is providing immediate relief to renters and homeowners by suspending all foreclosures and evictions until the end of April.
Trump says he will invoke Defense Production Act to marshal private sector in response to coronavirus pandemic.
WASHINGTON (AP) -- President Donald Trump has announced that he's invoking a federal provision that allows the government to marshal the private sector in response to the coronavirus pandemic. Trump appeared in the White House briefing room Wednesday for the third day in a row. He said he would sign the Defense Production Act "in case we need it" as the government bolsters resources for an expected surge in cases of the virus.
More than two dozen Senate Democrats have been urging Trump to invoke the Korean War-era law to increase production of needed masks, ventilators and respirators. Use of the law will also help expand hospital capacity to combat the coronavirus.
Trump announced at a White House briefing Wednesday that he will sign the papers to invoke the act later in the day. The U.S. has had 116 virus-related deaths and over 7,300 infections.