White House Proposal Would Pay Out $500B To Individual Americans

White House Proposal Would Pay Out $500B To Individual Americans
The Treasury Department proposed sending each individual two checks in amounts determined by their income and family size.

The Treasury Department wants to ask Congress for $500 billion to send out direct payments to individual Americans starting next month. It's part of a $1 trillion proposed stimulus package meant to put money into the economy, which has been affected by the coronavirus pandemic. 

Americans would get two checks from the government under this proposal: One sent on April 6 and one on May 18. Each payment would be the same amount, according to the proposal. The amount individuals receive would be based on their income and family size.  

The department is also asking for $50 billion for the airline industry, $300 billion for small businesses and $150 billion for other "critical sectors of the U.S. economy." 

Earlier this week, Republican Sen. Mitt Romney proposed giving every American adult $1,000 to help people meet short-term financial obligations. His proposal also includes grants for small businesses. Other lawmakers have proposed giving Americans thousands more. 

Contains footage from CNN.