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US authorities send checks to Americans

US authorities send checks to Americans

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The Americans will receive financial support from the authorities

The US Presidential Administration is taking steps to stop the economic downturn in the country.

To maintain financial stability in the country, US authorities decided to help the Americans in cash. This was announced on Tuesday, March 17, the country's Minister of Finance Stephen Mnuchin.

“Americans need cash now. The president wants cash now. When I say now, I mean in the next two weeks,” Mnuchin said.

“We are exploring the possibility of sending checks to Americans immediately,” the minister added.

He recalled that many companies stopped working due to the coronavirus pandemic.

At the same time, Mnuchin did not say exactly what amounts taxpayers can count on.

At the same time, The Washington Post, citing government sources, writes that the U.S. administration is asking Congress to approve a comprehensive stimulus package of about $850 billion.

According to the publication, the package is designed to “flood the US economy with money” by reducing the payroll tax and other mechanisms. At the same time, about $50 billion will be directed specifically to assist the aviation industry.

It is noted that during the 2008 global financial crisis, Congress also decided to invest serious funds in the US economy in the amount of $700 billion.

As reported, on the eve of the US stock market collapsed to lows for 33 years the second time since the beginning of last week.

On March 15, the US Federal Reserve lowered the rate to 0-0.25% as part of the fight against risks arising from the spread of coronavirus. In addition, the Fed announced that it is moving to a policy of so-called quantitative easing. The system will purchase additional bonds totaling $700 billion, of which $500 billion will come from US Treasury bonds.

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