Trump administration unveils stimulus package to minimize financial pain of COVID-19 outbreak

Описание: 트럼프 "코로나19서 빨리 회복 예상"…국민에 현금지급 추진

The White House is seeking one-trillion dollar stimulus package to help the U.S. battle the economic impact caused by the coronavirus pandemic.
U.S. Treasury Secretary Steven Mnuchin says such measures include getting emergency funds in Americans’ pockets immediately and deferring tax payments.
Kim Hyo-sun reports.
Amid the rapid spread of the coronavirus within the United States,... the Trump administration is eyeing a one-trillion dollar COVID-19 stimulus package.
During a White House press briefing Tuesday on the administration's latest efforts to combat the virus,... President Trump stressed it's going to be big and bold.
Treasury Secretary Steven Mnuchin said the aid package could amount to at least one-trillion dollars and they have already presented it to Senate Republicans.
Preisdent Trump again emphasized that the U.S. can claim victory over the virus.
"We will win. And when that victory takes place, our economy is going to go through the roof. It is so pent up. It is so built up. It is so ready to go in an upward direction. But we have to knock out this enemy is a really tough enemy, but we have to knock out all of us. That's all of us."
U.S. Secretary of Treasury Steven Mnuchin also explained that emergency funds will be given to Americans soon.
We're looking at sending checks to Americans immediately. And what we've heard from hardworking Americans, many companies have now shut down, whether it's bars or restaurants. Americans need cash now and the president wants to get cash now. And I mean, now in the next two weeks."
He also added the IRS is deferring 300 billion U.S. dollars in tax payments by 90 days, penalty-free.
In an effort to minimize the financial pain inflicted by COVID-19,... the Federal Reserve decided to ensure liquidity in the financial market by re-introducing the so-called Commercial Paper Funding Facility.
The Fed says it will begin buying commercial paper directly from banks and large corporations to pump money into the real economy.
The program was first established in the fall of 2008 at the height of the global financial crisis.
Kim Hyo-sun, Arirang News.

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