Market Overview

Trump Administration Pitches $850-Billion Coronavirus Stimulus Package

Share:
Trump Administration Pitches $850-Billion Coronavirus Stimulus Package

U.S. Treasury Secretary Steven Mnuchin will ask Senate Republicans for an $850-billion stimulus package on Tuesday intended to tackle the economic impact of the coronavirus pandemic, The Wall Street Journal reported, citing two people familiar with the matter.

This plan includes roughly $50 billion for the struggling airline industry, the newspaper said. 

Mnuchin already discussed the outline of the measure with Senate Republicans at a Capitol meeting Monday, WSJ said. 

It's expected Mnuchin will also urge lawmakers to approve legislation passed in the House aimed at making testing for the coronavirus more widely available and providing paid leave to workers who are affected, the report said. 

The shares of several industrial companiesw were trading higher Tuesday, rebounding from Monday's crash. The stocks may also potentially be getting a boost from expectations of government stimulus. 

On Monday, President Donald Trump said he would back the airline industry 100%. 

Related Link:

Trump Admin Asks For Gatherings Of 10 People Or Less For 2 Weeks

White House photo via Wikimedia

 

Related Articles (SPY)

View Comments and Join the Discussion!

Posted-In: coronavirus Covid-19 Steven Mnuchin The Wall Street JournalNews Politics Media General Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com