Treasury proposes $500B in cash transfers to Americans to stave off economic catastrophe

by Daniel Payne · Mar 18th, 2020 1:08 pm

The Treasury Department on Wednesday proposed an ambitious plan to transfer $500 billion in cash to Americans across the country, hoping that direct payments to citizens will help stave off economic devastation wrought by the coronavirus.

The amount each American would get would be tailored to income level and family size.

The payments would be divided into two checks to Americans, one starting April 6 and the other occurring in mid-May. Trump has called upon Congress to have checks in the mail starting in the next few weeks.

The Treasury has also a $300 billion package to help small businesses cover payroll and a $50 billion transfer to the airline industry, both of which have been clobbered by the lockdowns and restrictions brought on by the coronavirus pandemic.


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