The Trump administration agreed to give two rounds of checks to Americans totaling $500 billion in an effort to reduce the economic harm caused by the coronavirus.
On Wednesday, in a sweeping bipartisan vote, the Senate passed the bill to improve coronavirus study and research and offer paid sick leave for millions of American employees affected by it - and US President Donald Trump signed it quickly.
Congress and the White House have already concentrated on the much broader $1 trillion initiative of the administration to stabilize the economy as the pandemic threatened individuals and companies with financial ruin.
"The president said that we will do this now. And that is - right now," said Mnuchin. "This is something that needs to be done now. The president, according to Mnuchin, told him that the American workers "are not to blame for this. We are closing down areas of this economy for medical purposes," he added.
Government payments will arrive in equal value on April 6 and May 18, based on the summary obtained by Bloomberg News from the coronavirus stimulus plan of the White House. The size of the payment will be in correlation to a family's income and a number of children.
Information on Trump's economic recovery plan remain sparse - and it's likely to expand with lawmaker add-ons - but its centerpiece is dedicating $500 billion to start providing direct payments to Americans by early next month. It will also channel cash to companies to help keep employees on payroll and all but shut down vast sectors of the $21 trillion US economy.
Governors around the country have closed restaurants, bars, and other venues in their states as officials of public health seek to promote social isolation to prevent the virus from spreading.
On Wednesday, the White House issued new recommendations urging people not to meet in groups greater than 10, work and take classes as much as possible from home, and avoid eating in bars, restaurants and food courts.
The plan was first discussed by the Treasury secretary in a closed-door meeting with Republican senators. One of them, Missouri's Josh Hawley, has called for compensation that will be tailored based on family size and earnings. Utah's Mitt Romney had supported $1,000 checks around the board.
The Treasury program, which needs congressional approval, also proposes $50 billion to support airlines, $150 billion to grant loan guarantees to other distressed industries, and $300 billion to small businesses.
