Coronavirus response includes $3,000 for average family of 4: Mnuchin
Congressional and administration leaders hope to vote on the package Monday
Congress's proposed response to the economic shutdown caused by the coronavirus pandemic includes approximately $3,000 for the average family of four, Treasury Secretary Steven Mnuchin told "Fox News Sunday."
"The average direct deposit or check for a family of four will be approximately $3,000," Mnuchin said. "You can think of this as a bridge for them to get through this quickly."
$1T CORONAVIRUS RELIEF BILL 'VERY CLOSE,' SENATE LEADERS TO MEET AGAIN SUNDAY MORNING
He said he expects a vote on the relief bill Monday morning, and that the administration may go back to Congress if more money is needed after 10-12 weeks.
"We need the money now," he continued.
Mnuchin asks members of the media to practice social distancing as he departs a meeting on Capitol Hill March 16. (AP Photo/Patrick Semansky)
Senate Majority Leader Mitch McConnell and other Senate leaders are expected to discuss the $1 trillion-plus coronavirus economic package at 11 a.m. ET Sunday before a procedural vote expected later that afternoon.
The package also addresses problems faced by small business. Mnuchin described the proposed small business retention loans.
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"You'll get two weeks cash flow to pay your works. You need to retain them," he said, adding that the loans can be forgiven.