US Plans to Provide $6,000 to Four-Person Families Amid COVID-19 Crisis

[Image source=EPA Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Amid the economic crisis caused by the novel coronavirus infection (COVID-19), Americans are expected to receive $1,000 per adult and $500 (640,000 won) per child in two separate payments.

Steven Mnuchin, U.S. Secretary of the Treasury, appeared on Fox Business Network on the 19th (local time) and detailed the cash payment plan for Americans.

Secretary Mnuchin said that once a support package exceeding $1 trillion passes Congress, American adults will receive $1,000 each within three weeks. Children will also receive $500 each. This means a family of four will receive $3,000.

If the national emergency continues six weeks after the first payment, the same amount will be paid again. Since the COVID-19 situation is worsening, it seems unlikely that the emergency will be lifted within six weeks, so a family of four is expected to receive $6,000 in total.

The eligibility for payment is being pushed so that most citizens can receive it. The political news outlet The Hill reported that the income threshold under review in the Senate is $75,000 for individuals and $150,000 for couples.

Initially, the budget was expected to be $250 billion for a single payment, but if two payments are made, it will reach about $500 billion. This amounts to half of the total support amount of $1 trillion.

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