NEW:
The proposal, obtained by
@ABC News, would authorize two $250 billion rounds of direct payments to individual taxpayers, with the first payment issued beginning on April 6. Another wave would be distributed to taxpayers beginning in May 18.
World News Tonight on Twitter
The Treasury Department on Wednesday pitched the details of President Donald Trump's $1 trillion economic stimulus proposal to Congress, representing his top priorities for phase three of the federal government’s response to the new coronavirus pandemic.
The proposal, obtained Wednesday by ABC News, would authorize two $250 billion rounds of direct payments to individual taxpayers, with the first payment issued beginning on April 6. Another wave of payments would be distributed to taxpayers beginning on May 18.
“We are also playing with a lot of numbers, a lot of very big numbers and a lot of very small numbers, frankly,” Trump told reporters at the White House. “We have to help everybody. It was nobody's fault. This happened. I mean, some people could say it was somebody's fault, actually. But it was nobody's fault, and certainly none of these companies that all of a sudden had no passengers in planes and had no passengers on cruise ships, and all of the things that have happened, but I will say that they can't be blamed for this. And we want to keep those companies vibrant.”
Treasury details $1T Trump stimulus proposal, outlines timing for sending checks to Americans
President Trump refused to place a dollar amount on the payments during a news conference Wednesday afternoon, although Treasury proposed for the payment amounts to be fixed and tiered based on income level and family size, and each round of payments would be identical in amount.
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