Treasury proposal: Deliver $500B to Americans starting April

Coronavirus

President Donald Trump speaks during a press briefing with the coronavirus task force, at the White House, Tuesday, March 17, 2020, in Washington. (AP Photo/Evan Vucci)

WASHINGTON (AP) – The Treasury Department wants to start issuing direct payments to Americans by early next month as the centerpiece of a $1 trillion plan to stabilize the economy amid the coronavirus epidemic.

In a memorandum issued Wednesday, Treasury is calling for two $250 billion cash infusions to individuals: A first set of checks issued starting April 6, with a second wave in mid-May. The amounts would depend on income and family size.

The Treasury plan, which requires approval by Congress, also recommends $50 billion to stabilize the airlines, $150 billion to issue loan guarantees to other struggling sectors and $300 billion to for small businesses.

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