WASHINGTON (WAND/AP) - The White House and Congress members are working on a stimulus package to keep the economy moving during the pandemic.
Treasury Secretary Steven Mnuchin is preparing an aid package that is expected to total $850 billion, according to two administration officials.
“The president has instructed me we have to do this now,” he said at the White House briefing. He didn't give details except to say the amount should be significant and millionaires would not get it.
The White House has asked Congress to act immediately to pass the bill.
Senate Majority Leader Mitch McConnell, R-Ky., said that Congress needs to provide more "direct assistance" to workers and families and enact "further strong steps to secure our economic foundation" especially small businesses.
McConnell said that the Senate won't leave Washington until they pass additional aid packages.
This will be the most far-reaching economic rescue package since the Great Recession of 2008.
The White House hopes the measure will pass quickly, possibly this week, an enormous political undertaking as the administration scrambled to contain the economic fallout of the severe disruptions to American life from the outbreak.
White House officials offered senators a preliminary briefing late Monday at the Capitol, saying they want the plan approved by Congress as soon as possible, suggesting in a matter of days.
“ASAP,” White House economic adviser Larry Kudlow said late Monday. “There's an urgency.”
