Saying the country was nearing the “the end of our historic battle” with “the invisible enemy” of coronavirus, President Trump on Tuesday evening emphasized his desire for the U.S. to reopen for business by Easter — as his top economic adviser said Congress is “getting closer and closer” to passing an unprecedented fiscal stimulus package.
Speaking at Tuesday’s White House coronavirus task force briefing, Director of the U.S. National Economic Council Larry Kudlow specifically said the new coronavirus bill working its way through congressional gridlock would total $6 trillion: $4 trillion in liquidity from the Federal Reserve and $2 trillion in new money. Typical annual appropriations from Congress in a given fiscal year are around $1.2-4 trillion, with total expenditures roughly $4.3 trillion.
“I said earlier today that I hope we can do this by Easter,” Trump said in the White House briefing room, referring to his comments at a Fox News virtual town hall that officials could soon ease social-distancing restrictions. “I think that would be a great thing for our country, and we’re all working very hard to make that a reality. … Easter is a very special day for many reasons.”
Trump also sounded an unexpectedly magnanimous note: “I also want to thank Congress, because whether or not we’re happy that they haven’t quite gotten there yet, they have been working long hours. I’m talking Republicans and Democrats, all of them, the House, the Senate. I want to thank Congress because they are really trying to get there, and I think they will.”
“This package will be the single largest Main Street assistance program in the history of the United States,” Kudlow said, adding that negotiations would continue into the evening but that a vote is imminent. – READ MORE
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