The Trump administration plans to ask for an $850 billion stimulus package as coronavirus hits US economy
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The Trump administration is planning to ask Congress for hundreds of billions of dollars to prop up the US economy.A senior administration official told Business Insider the proposal has developed rapidly in recent days.
The proposal underscored a new sense of urgency in the White House, which had for weeks sought to downplay the human and economic threats of the respiratory illness COVID-19. Asked on Monday whether the US was heading toward a recession, President Donald Trump told a reporter: "Well, it may be." Read more: 'Things can get worse': An expert who cautioned about highly indebted companies before the coronavirus-led crash lays out a scenario where defaults soar and firms go bust
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