The US Treasury Secretary proposed a new economic stimulus package worth 916 billion USD


The US Treasury Secretary proposed a new economic stimulus package worth 916 billion USD

Treasury Secretary Steven Mnuchin presented a proposal for a new economic stimulus package to mitigate the impact of the COVID-19 pandemic in a discussion with US House Speaker Nancy Pelosi.

On December 8, Treasury Secretary Steven Mnuchin said he presented a proposal for a new economic stimulus package to mitigate the impact of the $ 916 billion COVID-19 pandemic during discussions with the Chairman. US House of Representatives Nancy Pelosi.

Accordingly, the stimulus package includes subsidies for state and local governments and legal protection for businesses.

“As part of this proposal, we will fund this stimulus by spending $ 140 billion in unused money from the Wage Protection Program and $ 429 billion in the Treasury fund,” said Mnuchin. “.

Pelosi had previously rejected a proposal from Senate Majority Leader Mitch McConnell on legal protections for businesses and state and local government funding in the next stimulus package.