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White House To Ask Congress To Approve $850B Stimulus Package

According to The Washington Post, Treasury Secretary Steven Mnuchin will share the details with Senate Republicans Tuesday.
Posted at 1:56 PM, Mar 17, 2020

The Trump administration will ask Congress to approve an emergency stimulus package of about $850 billion as the coronavirus continues to wreak havoc on the economy. 

During a press conference Tuesday, Treasury Secretary Steven Mnuchin said the goal is to pass the legislation "very quickly."

According to the Associated Press, the package would provide relief for small businesses, a big tax cut for wage earners and $50 billion for the airline industry alone.

The White House proposal is separate from the House's coronavirus relief bill, which is now pending before the Senate. That package includes sick pay, emergency food assistance and free virus testing.

As of Tuesday, there were more than 5,000 confirmed cases of the coronavirus in the U.S., according to Johns Hopkins University. 

Contains footage from CNN.