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Trump administration to seek USD 850 billion to stem virus' economic fallout: report

The Trump administration has sought USD 850 billion stimulus plan to offset serious dent made by the covid19 on the economy, according to officials in the know of the plan says Washington Post.

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Washington

The Trump administration plans is seeking a $850 billion stimulus package aimed at buffering the economy against fallout from coronavirus, the Washington Post reported on Tuesday citing four unnamed officials familiar with the plan.

U.S. Treasury Secretary Steven Mnuchin planned to discuss the request with Senate Republicans on Tuesday, it reported, adding that the package aimed to use payroll taxes or other mechanisms to flood the economy with cash.

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