Republicans will offer to spend another $1 trillion to support the U.S. economy, confirmed on Sunday, July 26, U.S. Treasury Secretary Steven Mnuchin on Fox News.
“Inside the $1 trillion package there are the most priority and urgent things,” said the head of the American Treasury. The support package includes new direct payments to the Americans.
The proposal is to be accepted by Congress and signed by U.S. President Donald Trump. Representatives of the U.S. Democratic Party believe that the proposed funds are insufficient.
In spring about $3 trillion was allocated to support the economy in the USA. On April 24 Trump signed a bill on financial aid to the American economy in the amount of almost half a trillion dollars to fight against coronavirus and its consequences.
According to analysts, the U.S. GDP in the II quarter of 2020 will fall by 25% in annual terms, which will be the biggest decline in the history of the country.