U.S. President Donald Trump intends to ask Congress for $850 billion in emergency funding to avoid a recession due to a coronavirus pandemic.
The essence of the proposal is to introduce money into the American economy, as consumer spending and other key aspects of economic life have practically stopped.
This amount is expected to include $500 billion to reduce wage taxes, $250 billion for available Small Business Association loans, and another $58 billion to support airlines.
U.S. Treasury Secretary Stephen Mnuchin, as Trump’s chief advisor in talks with Congress to counter the coronavirus, will today present a proposal to the Republicans in the Senate.