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Treasury Secretary Steven Mnuchin said Tuesday that the Trump administration is discussing sending checks to Americans "immediately" to help cushion the economic impact of the coronavirus outbreak.

Driving the news: Mnuchin, who has been working closely with bipartisan leadership on Capitol Hill to pass new legislation to provide coronavirus relief, announced a series of economic stimulus efforts at the White House designed to help small businesses, corporations and individuals.

What he's saying: "Americans need cash now," Mnuchin said. "And I mean now — in the next two weeks."

  • It's still unclear who would get money and how much, but Mnuchin indicated it would be aimed at those hurt most by the coronavirus outbreak.
  • "We don't need to send people who make a million dollars a year checks," Mnuchin said.
  • Some on Capitol Hill and liberal and conservative economists have called for direct government payments of $1,000 to every American adult. Mnuchin said the amount of each check "may be a little bit bigger than what's in the press."

Other highlights:

  • Mnuchin also announced that the government will defer up to $300 billion in tax payments, allowing individuals to defer up to $1 million and corporations to defer up to $10 million — interest-free and penalty-free for 90 days.
  • He said that the administration intends to keep financial markets open, but shorter hours may be necessary.

Go deeper

Trump's coronavirus adviser Scott Atlas resigns

Photo: Nicholas Kamm/AFP via Getty

Scott Atlas, a controversial member of the White House coronavirus task force, handed in his resignation on Monday, according to three administration officials who discussed Atlas' resignation with Axios.

Why it matters: President Trump brought in Atlas as a counterpoint to NIAID director Anthony Fauci, whose warnings about the pandemic were dismissed by the Trump administration. With Trump now fixated on election fraud conspiracy theories, Atlas' detail comes to a natural end.

Dave Lawler, author of World
2 hours ago - World

Assassination in Iran sets stage for tense final 50 days of Trump

The funeral ceremony in Tehran. Photo: Iranian Defense Ministry via Getty

Iranian leaders are weighing their response to the assassination of Mohsen Fakhrizadeh, known as the father of Iran’s military nuclear program, who was given a state funeral Monday in Tehran.

The big picture: Iran has accused Israel of carrying out Friday’s attack, but senior leaders have suggested that they’ll choose patience over an immediate escalation that could play into the hands of the Israelis and the outgoing Trump administration.

Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Hospital crisis deepens as holiday season nears.
  2. Vaccine: Moderna to file for FDA emergency use authorizationVaccinating rural America won't be easy — Being last in the vaccine queue is young people's next big COVID test.
  3. Politics: Bipartisan group of senators seeks stimulus dealChuck Grassley returns to Senate after recovering from COVID-19.
  4. States: Cuomo orders emergency hospital protocols as COVID capacity dwindles.
  5. Economy: Wall Street wonders how bad economy has to get for Congress to act.
  6. 🎧 Podcast: The state of play of the top vaccines.

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