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Trump Admin Requests $1 Trillion Coronavirus Stimulus Package From Congress

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DAILY
CALLER

Treasury
Secretary Steve Mnuchin is expected to request an $1 trillion
stimulus package to curb the impact of the coronavirus pandemic on
the U.S. economy, Bloomberg News reported Tuesday. Mnuchin met with
Republican leaders via conference call Monday and headed to the
Capitol to meet with Republican Senate leaders Tuesday, according to
Bloomberg. Reports suggest the Republicans are considering combining
the bill into the existing coronavirus spending bill passed by the
House last week. The stimulus push comes as the coronavirus has put
the stock market in freefall, entirely eliminating the gains made
since President Donald Trump took office in 2017. Mnuchin was
originally expected to request $850 billion, but upped the number
after his meeting with Senate Republicans. Mnuchin’s move comes as
Trump’s resident China trade hawk Peter Navarro is leading efforts
to draft a “Buy American” executive order that would allow
companies to file certain expenses as tax write offs if they rejoin
the American supply chain.

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