Publisher's note: This informational nugget was sent to me by Ben Shapiro, who represents the Daily Wire, and since this is one of the most topical news events, it should be published on BCN.
The author of this post is James Barrett.
A massive emergency stimulus package proposed by the White House will direct two $1,000 checks to many Americans, according to administration officials.
"White House officials are working with congressional Republicans on an emergency stimulus package that could send two $1,000 checks to many Americans and also devote $300 billion towards helping small businesses avoid mass layoffs, according to two senior administration officials," The Washington Post
reported Wednesday. "No final decisions have been made and talks with Republican leaders remain fluid, but the growing scale of the $1 trillion rescue plan is coming into sharper focus."
"The White House will still need backing from Democrats before any plan can be pushed into law, but many Democrats have said they would support sending cash payments to Americans who are struggling to pay bills because of the virus's economic impact. Still, multiple levels of negotiations remain,"
the Post's Erica Werner and Jeff Stein note.
While the Senate takes steps to pass a more modest coronavirus relief bill, the White House has been in talks with congressional leaders about its sizable stimulus package that would amount to over $900 billion in tax cuts, loan options, and payments to Americans who qualify for the emergency relief checks.
On Tuesday, multiple outlets reported that the bill would include around $500 billion in payroll tax cut, $250 billion in Small Business Administration (SBA) loans, and around $60 billion for the airline industry, totaling around $850 billion.
The Post's sources say now that the total amount will likely be significantly higher, some $1 trillion, which is expected to include "$500 billion towards the cash payments to individual Americans, though some people wouldn't qualify if their income is over a certain level."
The SBA loan initiative, meanwhile, will likely include $300 billion in funding, the Post reports.
As noted by the Post
Tuesday, the Trump plan "would come in addition to another roughly $100 billion package that aims to provide paid sick leave for impacted workers, though the details of that legislation remain very fluid as it moves through Congress."
Early Wednesday, President Trump issued a tweet assuring Americans out of work because of the crisis that "money will soon be coming to you."
"For the people that are now out of work because of the important and necessary containment policies, for instance the shutting down of hotels, bars and restaurants, money will soon be coming to you,"
Trump tweeted. "The onslaught of the Chinese Virus is not your fault! Will be stronger than ever!"
The president followed up that tweet up by vowing to "totally protect your Medicare & Social Security!"
As The Daily Wire
reported, President Trump announced other decisive measures Wednesday intended to address the coronavirus crisis, including the mutual decision with Canadian Prime Minister Justin Trudeau to shut down the U.S. border with Canada in order to curb the further spread of COVID-19.
"We will be, by mutual consent, temporarily closing our Northern Border with Canada to non-essential traffic. Trade will not be affected. Details to follow!"