Mnuchin says White House working to send $1,000 checks to most Americans within 3 weeks

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Fox Business

Treasury Secretary Steven Mnuchin said on Thursday the White House is working to send $1,000 checks to most adult Americans within three weeks to offset the coronavirus pandemic, which has forced life in the U.S. to come to a grinding halt.

"We're going to get out of this quickly," Mnuchin told FOX Business' Maria Bartiromo.

The cash checks are part of a broader $1 trillion plan introduced by the White House earlier this week. It includes $300 billion for small businesses to hire people and keep workers on the payroll; $200 billion for more facilities with the Federal Reserve for secured lending to hard-hit industries like airlines; and $500 billion in money "direct deposited" for most Americans.

Mnuchin said adults would receive an immediate payment of $1,000 and children would receive $500 under the current proposal. A family of four would receive as much as $3,000. If the crisis is still ongoing in six weeks, Mnuchin said, the federal government will deliver another round of checks worth the same amount of money.

"That's a lot of money to hard-working Americans who are at home," Mnuchin said.

It's unclear what the income threshold will be for Americans to qualify for the checks. However, according to the Hill, Senate Republicans are reportedly considering making the limit $75,000 for individuals and $150,000 for couples.

“I think it’s clear we don’t need to send people who make a million dollars a year checks,” Mnuchin said earlier this week.