Americans would get two checks under Treasury Department proposal

The Treasury Department is asking Congress for $500 billion in direct payouts for taxpayers as part of a $1 trillion stimulus package to combat the economic effects of the coronavirus pandemic, NBC News has learned.

The two rounds of direct payments to taxpayers, each a total of $250 billion, would be sent on April 6 and then the second round would be sent on May 18, according to the proposal obtained by NBC News. They would be tiered payments, with the amounts based on income level and family size, the proposal says. Both payments would be for the same amount.

The Treasury is also asking for $50 billion for the airline industry, a small business interruption loan program of $300 billion, and $150 billion for other distressed sectors.