US President Donald Trump's administration plans to ask Congress on Tuesday to approve a massive economic stimulus package of around $850 billion to help the nation's economy recover from damages caused by the novel coronavirus (COVID-19), the Washington Post reported, citing four officials familiar with the matter.
Treasury Secretary Steven Mnuchin will share the plan's details with Senate Republicans later in the day, the report said.
The package will include measures to boost the economy, including a payroll tax cut, two sources noted. On Monday, Mnuchin told lawmakers he would like the Senate to pass the package this week.
On Monday, US Senate Democratic leader Chuck Schumer said he would propose comprehensive measures worth $750 billion to combat the coronavirus. The measures would include payments for unemployment benefits, additional funding for the Medicaid program, assistance for small businesses and help for COVID-19 testing, he said.
