AP Sources: White House seeks USD 850 billion economic stimulus

The White House is proposing a roughly USD 850 billion emergency economic rescue package on Tuesday for businesses and taxpayers amid the coronavirus crisis, a sweeping stimulus package unseen since the Great Recession.

Treasury Secretary Steven Mnuchin will outline the package to Senate Republicans at a private lunch, with officials aiming to have Congress approve it this week. It provide relief for small businesses and the airline industry and include a massive tax cut for wage-earners.

Two people familiar with the request described it to The Associated Press on the condition of anonymity because they weren't authorized to speak publicly.

The White House hopes the measure will pass quickly, possibly this week, an enormous political undertaking as the administration scrambled to contain the economic fallout of the severe disruptions to American life from the outbreak.

White House officials offered senators a preliminary briefing late Monday at the Capitol, saying they want the plan approved by Congress as soon as possible, suggesting in a matter of days.

"ASAP", White House economic adviser Larry Kudlow said late Monday. "There's an urgency."
"We're going to back the airlines 100 per cent," Trump said at a White House briefing. "We've told the airlines we're going to help them."
"We need a better response from the federal government," said Rhode Island Governor Gina Raimondo, a Democrat. "I am out of patience."