U.S Treasury Secretary Steven Mnuchin announced today on Fox Business Network that the first federal checks to families could be $3,000 for a family of four under the White House proposal of $1 trillion to assist citizens, their, families and the U.S. economy amid the coronavirus outbreak.
According to Treasury Secretary Mnuchin said Trump's proposal to Congress would have "checks in the mail" and would be directly deposited into people's accounts in about in three weeks.
The payments would be $1,000 per adult and $500 per child so that a family of two parents and two children would receive $3,000, Mnuchin told Fox Business Network.
"That's a lot of money for hardworking Americans," Mnuchin said.
According to Newsday, Mnuchin said families would receive another $3,000 six weeks later if the national emergency still exists. Officials have previously said the money is expected to be allocated by income level, to exclude the superwealthy.
Congress is rushing to compile the sweeping economic rescue package, the most significant undertaking since the 2008 recession and financial crisis, in a matter of days, according to Newsday.
The Treasury Department proposed two $250 billion cash infusions to individuals: the first set of checks issued starting April 6, with the second wave in mid-May.