Steven Mnuchin announced the emergency aid package to stabilize economy
US to intervene the economy in attempt to stop and reverse the coming recession
US Treasury Secretary Steven Mnuchin is committed to a major support package to help the economy get through the corona crisis. He said that after consulting with Republicans. The aid package is in addition to the emergency law with corona measures that is already before the Senate for approval.
Mnuchin did not provide any further details about the aid package, except that he wants to create “major interventions”. According to Republican Marco Rubio, the new measures will mainly help airlines and smaller entrepreneurs. Mnuchin wants the package to come this week, Rubio said.
Mitch McConnell, the leader of the Republicans in the Senate, expressed support for the emergency law with corona measures. He wants to get it through the Senate. The House of Representatives has already passed the law to spend up to $ 8 billion and a plan of economic support for business.