The direct checks that the United States Government plans to send to citizens of the country to mitigate the economic impact of the coronavirus crisis could arrive in the next three weeks, Treasury Secretary Steven Mnuchin said on Sunday.
“I hope that in three weeks time, people who have given us direct deposit information will see those direct deposits in their bank accounts, and we will create a web-based system for which we do not have deposit information and can upload it and get the money right away, instead of mailed checks, “Mnuchin told CBS.
On Friday, US President Donald Trump stamped his signature on the largest economic stimulus package in the history of the country, worth more than $ 2 trillion, with the aim of containing the economic impact of the coronavirus pandemic, which already leaves more than 2,000 dead in the country.
The plan includes an item of about $ 250 billion that will be reserved to make direct payments to individuals and families of $ 1,200 for those with an income of less than $ 75,000 a year plus $ 500 for each child under 17 years of age.
In addition, there are 350,000 million in loans for small businesses and another 250,000 million to expand unemployment insurance benefits.
Mnuchin refused to use the term “bailout”: “We are not bailing out companies or industries,” he said.
“For any loan we make, the taxpayer will be fully compensated,” he said. “As the president said, we are going to look at each situation. Some are very good companies that only need liquidity and will obtain loans,” he stressed.
The fiscal stimulus package is triple that implemented in 2009 after the outbreak of the financial crisis, which amounted to $ 700 billion.
The current plan, which represents about 10% of the country’s Gross Domestic Product, was endorsed this week in the House, the majority of which was Democratic, after approval in the Senate, of the majority Republican.
Deaths from coronaviruses now exceed 2,000 in the US, which has so far recorded 2,201 deaths, of which more than a quarter have occurred in New York state, according to the latest data from Johns Hopkins University.
On Friday, the United States, which leads the number of infections in the world, crossed the barrier of 100,000 cases of COVID-19, and is at 125,433; followed by Italy, with 97,689; and China, with 82,122.