The Trump administration is working feverishly on an emergency stimulus package that could exceed $1 trillion to send checks to Americans “immediately” as the coronavirus outbreak is closing businesses and putting Americans out of work; plus more of today’s top stories in conservative politics.
Trump working to send Americans checks “immediately”
President Donald Trump and his administration are getting the message out to Americans who face a financial crisis in the midst of the coronavirus outbreak that the government will be sending money their way.
The administration is working on a number of methods to provide relief which could include sending Americans checks as well as tax relief.
In two early morning tweets on Wednesday, President Trump wrote:
“For the people that are now out of work because of the important and necessary containment policies, for instance the shutting down of hotels, bars and restaurants, money will soon be coming to you. The onslaught of the Chinese Virus is not your fault! Will be stronger than ever!”
“I will totally protect your Medicare & Social Security!”
Treasury working on sending Americans checks
On Tuesday, US Treasury Secretary Steven Mnuchin, during a press conference from the White House, announced that the administration was working on sending checks to Americans.
“We’re looking at sending checks to Americans immediately,” Mnuchin said. “Americans need cash now, the president wants to get cash now. I mean now—in the next few weeks.”
“The president has instructed me we have to do this now,” Mnuchin added.
Following the press conference, the Dow rallied nearly 1000 points.
Reportedly, Mnuchin is pressing Republican senators to put together a package that would send $200 billion worth of payments to Americans in the next couple of weeks, arriving by early April.
IRS extends tax payment deadline by 90 days
In another move to bring relief to Americans whose finances have been hit hard by the coronavirus outbreak, US Treasury Secretary Steven Mnuchin announced on Tuesday that the Trump administration has persuaded the Internal Revenue Service (IRS) to extend the payment date for federal taxes due by 90 days.
The payment extension will give individuals and businesses an extra 90 days to pay the IRS if they owe additional income tax for the year 2019.
The deadline for paying any money owed to the IRS has now been extended to June 15, 2020.
However, it is only the payment deadline – not the filing deadline – that has been extended.
Taxpayers are still required to file their federal tax returns by April 15, Mnuchin said.
2020: Trump vs. Biden? Sanders to “assess his campaign”
It’s looking like the presidential race in 2020 will come down to President Donald Trump versus former Vice President Joe Biden, as the campaign of Bernie Sanders has announced that the Vermont Senator will “assess his campaign” after suffering an across-the-board loss in three states on Tuesday.
“The next primary contest is three weeks away,” said Faiz Shakir, Sanders’ campaign manager, in a statement. “Senator Sanders is going to be having conversations with his supporters to assess his campaign.”
“In the immediate term, however,” added Shakir, “he [Sanders] is focused on the government response to the coronavirus outbreak and ensuring that we take care of working people and the most vulnerable.”