Millions of Americans are without a source of income to cover their bills as the coronavirus pandemic has them unable to get back to work.
While President Trump recently signed a $2.2 trillion stimulus to help American businesses and citizens, he is also working on a plan to cover all individual, unpaid medical bills.
ABC News reports Trump teased the plan on Thursday, describing it as a “cash payment” to help cover financial gaps.
From the report:
Vice President Mike Pence said the proposal would likely tap some of the $100 billion that is already earmarked for hospitals to compensate them directly for treating uninsured Americans.
Pence said a final decision would be made Friday.
“So we’re going to work it out, so we’re going to try and get for that certain group of people a cash payment,” Trump said late Thursday.
Added Pence: “The president has made it very clear, we don’t want any American to worry about the cost of getting a test where the cost of getting treatment.”
Breitbart News reports the Trump administration is already shelling out money to community banks so that it can soon be direct deposited into personal accounts. Each adult that qualifies will receive $1,200.
According to the report, as of 11:00 am EST Friday morning, the Trump administration shelled out $756,985,761 to 245 banks.
President Donald Trump’s Paycheck Protection Program (PPP) through the Department of Treasury and Small Business Administration has already on its first day pushed out more than $620 million to small businesses nationwide mostly through community banks.
Friday, as Mnuchin and Small Business Administration administrator Jovita Carranza announced at the White House Coronavirus Task Force briefing on Thursday night, is the first day these funds are going out to small businesses nationwide through banks across the country. The Paycheck Protection Program, or PPP, passed as part of the $2.2 trillion phase three coronavirus relief package that Congress passed last week.
Since this money is going directly to small businesses across the country, and since it is mostly flowing through small community banks, it is significantly boosting communities and main street across the country rather than Wall Street. “This is the Main Street rescue, not a Wall Street bailout,” the senior Treasury Department official added.