The United States Government has proposed an $850B stimulus package to support the economy.
- The Stimulus Package would include sending cash payments directly to citizens, instead of the previously anticipated payroll tax cuts.
- These cash payments are rumored to represent $250B of the package.
- $50B in economic relief is expected to flow to the airline industry.
- Tax payments are expected to be deferred for 90 days with no interest or penalty fees. This measure would inject $300B into the economy.
- The Government is currently preparing to present its stimulus package to Congress.
- The New York Times reports that more than 5,000 known cases of coronavirus have been detected in the US.
More updates will be published as they become available.