Treasury Secretary Steven T. Mnuchin is expected to meet with Senate Republicans Tuesday to discuss an $850 billion coronavirus relief package including aid for hard-hit industries.
White House aides say the package could include more than $50 billion for airlines, about $500 billion in payroll tax cuts and $250 billion or more in Small Business Administration loans.
The U.S. airline industry said it has lost about 1 million passengers in the first two weeks of March alone, compared with the same period a year ago.
President Trump said Monday the pandemic, which has closed many businesses and schools across the country, could push the nation into a recession. The stock market suffered huge losses Monday, falling more than 12% to wipe out nearly all the gains since Mr. Trump was inaugurated.
Markets were up slightly in early trading Tuesday.
The Senate also is taking up a House-passed bill to provide paid sick leave, free coronavirus testing and other aid to states dealing with the outbreak.
Senate Majority Leader Mitch McConnell, Kentucky Republican, described the talks with the White House as “urgent.” Mr. Mnuchin held discussions with some GOP senators on Monday night.
“It’s my intention that the Senate will not adjourn until we have passed significant and bold new steps above and beyond what the House has passed to help our strong nation and our strong underlying economy weather this storm,” he said Tuesday on the Senate floor.
Mr. McConnell said Congress needs to provide more direct aid to workers and their families and more aid to small businesses.
• Dave Boyer can be reached at dboyer@washingtontimes.com.
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