The Trump administration is working to send money directly to Americans in a bid to curb the economic fallout of the coronavirus crisis.
“We’re looking at sending checks to Americans immediately,” Treasury Secretary Steven Mnuchin told reporters at the White House.
Mnuchin said the administration was looking at ways to provide the checks within the next two weeks.
He also said the administration will allow Americans to defer up to $1 million in payments to the Internal Revenue Service for 90 days.
Mnuchin said the IRS would not charge interest or penalties for the deferral. He said corporations could defer up to $10 million in IRS payments.
CNN’s John Harwood also asked President Donald Trump and Treasury Sec. Steve Mnuchin about the logistics of an economic stimulus idea that could give $1,000 checks to Americans, which is gaining some bipartisan support.
Mnuchin expressed some support for the idea and it would be discussed during his Capitol Hill meetings.
“I think it’s clear we don’t need to send people who make a million dollars a year checks. But we like — that’s one of the ideas we like. We’re going to preview that today and then we’ll be talking about details afterwards,” Mnuchin said.
Trump chimed in, saying, “I think we’re going to do something that gets money to them as quickly as possible. That may not be an accurate way of doing it because obviously some people shouldn’t be getting checks for $1000. But we’ll have a pretty good idea by the end of the day what we’re going to be doing.”