US Government Proposes $2,000 Cash Payment Per Individual

[Asia Economy New York=Correspondent Baek Jong-min] The Donald Trump U.S. administration is reportedly pushing a plan to provide $2,000 to each American as part of its response to the novel coronavirus disease (COVID-19) crisis, according to the Washington Post (WP) on the 18th (local time).

WP reported that based on a two-page report circulated by the Treasury Department regarding a $1 trillion stimulus package, a plan to provide $2,000 to Americans to alleviate the impact of COVID-19 is underway. The budget required for this is $500 billion. This amount is double the previously reported plan of $250 billion total, with $1,000 paid per individual, which was announced just a day earlier.

The Treasury Department plans to send checks of $1,000 each to individuals in two installments on April 6 and May 18.

However, the payment amount has not been finalized, and it is an issue that requires consultation with the Republican leadership in Congress as well as agreement with the Democrats. WP added that many in the opposition Democratic Party also support sending cash to Americans who are struggling to pay utility bills and other expenses.

Of the $1 trillion stimulus package, $300 billion has been allocated for loans to small businesses. These are government-backed loans intended to maintain employment at small businesses so that payroll payments to employees can continue.

Additionally, WP explained that $50 billion is allocated to support the airline industry, and $150 billion is designated for support in other sectors such as the lodging industry.

This content was produced with the assistance of AI translation services.