U.S. President Donald Trump addresses his administration?s daily coronavirus briefing at the White House in Washington, U.S., March 17, 2020. REUTERS/Jonathan Ernst
WASHINGTON (Reuters) – President Donald Trump’s administration is considering sending checks to Americans so they have cash to spend during the coronavirus crisis and it has increased the amount of tax payments that can be deferred, Treasury Secretary Steve Mnuchin said on Tuesday.
“We’re looking at sending checks to Americans immediately,” Mnuchin said at a White House briefing. “Americans need cash now … and I mean now in the next two weeks.”
Mnuchin also said that individuals can defer tax payments up to $1 million and corporations up to $10 million for 90 days, interest and penalty-free.
Reporting by Alexandra Alper; Writing by Lisa Lambert; Editing by Tim Ahmann