Treasury Secretary Steve Mnuchin is expected to request an $1 trillion stimulus package to curb the impact of the coronavirus pandemic on the U.S. economy, Bloomberg News reported Tuesday. Mnuchin met with Republican leaders via conference call Monday and headed to the Capitol to meet with Republican Senate leaders Tuesday, according to Bloomberg. Reports suggest the Republicans are considering combining the bill into the existing coronavirus spending bill passed by the House last week. The stimulus push comes as the coronavirus has put the stock market in freefall, entirely eliminating the gains made since President Donald Trump took office in 2017. Mnuchin was originally expected to request $850 billion, but upped the number after his meeting with Senate Republicans. Mnuchin’s move comes as Trump’s resident China trade hawk Peter Navarro is leading efforts to draft a “Buy American” executive order that would allow companies to file certain expenses as tax write offs if they rejoin the American supply chain.
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