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Trump admin plans to transfer cash to help Americans

In US, Trump administration is planning to give 1000 dollar per adult and 500 dollar per child in direct money transfer as part of its efforts to help Americans mitigate the economic impact of the coronavirus crisis. US Treasury Secretary Steven Mnuchin said the transfer of cash is part of its massive 1 trillion dollar stimulus package.

Initially, a family of four would be paid 3,000 dollar as soon as Congress passes this in three weeks. And then six weeks later, if the president still has a national emergency, administration will deliver another 3,000 dollar. So that’s a lot of money to hardworking Americans who are at home for no fault of theirs, Mnuchin said.

Noting that the administration has announced a trillion-dollar plan, Mnuchin said it includes a 300 billion dollar package for small businesses. Asserting that President Donald Trump is determined to support the American economy, Mnuchin said huge corporates like the airlines, the government is planning secured loans on market terms.

President Trump in a press conference at the White House said in worst case scenario, there could be large scale job losses. He, however, exuded confidence that that is unlikely to happen.