President Trump has urged Congress to work with him on a 'big, bold' stimulus package to counter the economic damage from the coronavirus pandemic.
WASHINGTON – President Donald Trump urged Congress Tuesday to work with him on a"big, bold" stimulus package to counter the economic damage from theTreasury Secretary Steve Mnuchin, Trump's lead negotiator with Congress for the rescue package, said it could pour $1 trillion into the U.S. economy.
To help workers and families cope with the dispruptions, Mnuchin said one option under consideration is sending checks directly to Americans. Sen. Mitt Romney, R-Utah, has proposed cutting $1,000 checks for all American adults. For the moment, many Senate Republicans are setting aside worries about the deficit impact of the package, which could reach $1 trillion or more.
U.S. stocks stabilized after the Trump administration said it planned financial support for an airline industry devastated by the pandemic. The gains follow the market's worst sell-off in more than three decades on Monday. The Dow Jones Industrial Average and the Standard & Poor’s 500 both rose sharply Tuesday after suffering their worst day since the “Black Monday” stock market crash of 1987.
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