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The U.S. Treasury Department has offered to allocate $916 billion to stimulate the economy

9 December 2020
1 min.
The U.S. Treasury Department has offered to allocate $916 billion to stimulate the economy

Support for the American economy

Previously, the US authorities had already spent $3 trillion on measures to support the economy in the wake of the pandemic.

The U.S. Department Treasury has offered Congress to allocate $916 billion for emergency measures to stimulate the economy in the context of the COVID-19 pandemic, said the U.S. Treasury Secretary Steven Mnuchin on Twitter.

Steven wrote in his Twitter account: "On behalf of the President, I submitted a $916 billion proposal, which is a slightly larger package than the bipartisan $908 billion proposal".

In early December, a group of senators presented a $908 billion stimulus package. The proposals were presented by senators from both the Democratic and Republican parties.

Mr. Mnuchin pointed out that the Ministry of Finance would allocate part of the stimulus, including $140 billion from the unused funds of the wage support programme and $429 billion from the funds of the Ministry of Finance.

The Democrat-controlled House of Representatives and the Senate, in which the majority is owned by Republicans, continue to argue over the size of the stimulus package. Democrats believe that the amount of support should exceed $2 trillion, while Republicans insist on a maximum of $1 billion.

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