Trump Admin Seeking $850 Billion in Emergency Economic Stimulus

Trump Admin Seeking $850 Billion in Emergency Economic Stimulus The administration's sweeping package will reportedly be laid out to Senate Republicans by Treasury Secretary Steven Mnuchin sometime today.

Steven Mnuchin, Treasury Sec., via AP The package will provide economic relief for industries hit hard by the coronavirus, as well as small businesses.

It will also reportedly include a tax break for wage earners.

White House officials reportedly are seeking to have the package approved and passed by Congress by the end of the week.

The massive scale of this emergency relief package is similar to what the Obama administration sought during the Great Recession.

Democrats have also proposed a $750 billion package.

Sen.

Chuck Shumer, Minority Leader, via AP Both sides of Congress, and the White House are in agreement that major action is vital.