Coronavirus response includes $3,000 for average family of 4: Mnuchin

Daniel Fowler
March 23, 2020

1 nation's ailing economy which many analysts said had already entered in to a recession. The supplies should reach NY and California by Tuesday. US nominal growth domestic product is around $21 trillion.

FILE - Treasury Secretary Steven Mnuchin testifies on Capitol Hill in Washington, March 11, 2020, before a House Appropriations subcommittee hearing on the FY'21 budget.

With a population on edge, societal norms rewritten and financial markets teetering, all sides were hoping for an agreement that would provide some relief against the pandemic's twin health and economic crises, now believed likely to stretch for several months.

The package would include $3,000 checks to families and other aid to last the next 10 weeks.

Before the congressional talks stalled, Mnuchin told the "Fox News Sunday" show, "I do think it will get done".

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According to Mnuchin, the deal includes federal loans to small businesses so they can retain their workers; cash payments averaging $3,000 for a family of four as well as "enhanced" unemployment insurance. "We'll have up to $4 trillion to support liquidity that we can use to support the economy".

The top congressional leaders met with Treasury Secretary Steven Mnuchin, President Donald Trump's chief negotiator in the aid talks, who earlier in the morning had voiced optimism in a national television interview that a deal was imminent. Absolutely", Mnuchin said. "I think, next quarter, a lot depends on how quickly the curve of the medical situation works.

US cases climbed to over 25,000 on Sunday morning and at least 325 people have died, with about half the cases in NY state, according to Reuters. The tally shows 32 states, Guam, Puerto Rico and Washington D.C. have all reported deaths.

The virus has killed over 13,000 globally and infected more than 300,000.

The toll from the coronavirus is mounting in the US, with more than 27,000 confirmed cases and at least 323 deaths, with both figures markedly increasing in recent days.

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