Steven Mnuchin

Treasury Secretary Steven Mnuchin on Tuesday said the Trump administration is prepared to “spend what we need to spend” in the next coronavirus relief package, which officials hope to be complete by the end of the month.

Speaking alongside President Trump, Vice President Mike Pence, Senate Majority Leader Mitch McConnell and House Minority Leader Rep. Kevin McCarthy in the Oval Office, Mnuchin said that “the focus is kids and jobs,” and that the goal is to have it in place by the end of this month.

Larry Kudlow, a long-time advocate of lowering taxes as a way to promote growth, is pushing for a payroll tax cut as a key part of the plan to spur economic growth amid the four-month-long pandemic recession.

Unlike previous Treasury secretaries, Steven Mnuchin did not have a long history of working in public service before moving to Washington.

The administration may cap unemployment benefits at no more than 100 percent of a worker's salary in the next virus relief bill.

In the past week, Trump has vocalized his support for a second stimulus check -- even as the economy starts to gradually improve.

The remaining $135 billion in the PPP may be repurposed as the economic fallout from the pandemic continues, Treasury Secretary Steven Mnuchin said Tuesday. 

The SBA is expected to release a tranche of data on Thursday revealing which business owners received PPP loans.

By extending the deadline, the federal government allowed individuals and businesses to hold onto their cash longer as they deal with the fallout from the outbreak of the virus.

Treasury Secretary Steven Mnuchin told Lou Dobbs Monday that there is energy within the Trump administration to hold China accountable for the coronavirus pandemic.

The Trump administration has relented to public pressure and pledged to provide more details about which small businesses received loans.

The Small Business Administration has so far not made public the list of roughly 4.6 million businesses that have received more than $512 billion from the pandemic emergency lending program since early April

Mnuchin came under fire when he said the Trump administration would not reveal the names of companies and nonprofits that got the Paycheck Protection Program loans.

Despite recent protests nationwide for justice for African-Americans, Treasury Secretary Steven Mnuchin said on Thursday there is no plan to speed up production of a new version of the $20 bill featuring American abolitionist Harriet Tubman.

Mnuchin said the White House will take a close look at sending a second round of stimulus payments to Americans.

Mnuchin's comments come on the heels of the surprisingly strong May jobs report.

Treasury Secretary Steven Mnuchin spent 17 years at Goldman Sachs, where his father had also worked. He got a job there right after graduating from Yale University with a degree in economics. 

Under the current rules, recipients of the government-backed aid must spend the money within eight weeks.

Lawmakers were questioning Mnuchin and Powell over their use of the $500 billion in CARES Act funding made available to the Treasury and U.S. central bank.

The Treasury Department has announced five lending facilities to deploy other portions of the money, but has not invested in them yet.