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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

Updated 27 mins ago - Economy & Business

The next worker fight: Time off for Juneteenth

Illustration: Annelise Capossela/Axios

Who gets paid time off to celebrate Juneteenth in the years to come will be uneven and complicated, if history is any guide.

Why it matters: Corporate America hasn't grappled with a new federal holiday since Martin Luther King Jr. Day was authorized almost 40 years ago. How they responded took years to evolve.

27 mins ago - World

UN assembly condemns Myanmar military coup

Protesters make the three-finger salute as they take part in a flash mob demonstration against the military coup. Photo: AFP via Getty Images

The UN General Assembly on Friday condemned Myanmar's military coup and called for an arms embargo against the country, AP reports.

Why it matters: The rare move demonstrates widespread global opposition to Myanmar's military junta, which overthrew the country's democratically elected government and seized power on Feb. 1.

Pakistan PM will "absolutely not" allow CIA to use bases for Afghanistan operations

Pakistan will "absolutely not" allow the U.S. Central Intelligence Agency to use bases on its soil for cross-border counterterrorism missions after American forces withdraw from Afghanistan, Prime Minister Imran Khan tells "Axios on HBO" in a wide-ranging interview airing Sunday at 6 pm ET.

Why it matters: The quality of counterterrorism and intelligence capabilities in Afghanistan is a critical question facing the Biden administration as U.S. forces move closer to total withdrawal by Sept. 11.

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