Kudlow says coronavirus relief package worth more than $2 trillion
Larry Kudlow, director of the U.S. National Economic Council, speaks during a news conference in the briefing room of the White House in Washington, D.C., on Friday, Jan. 17, 2020.
Al Drago | Bloomberg | Getty Images
The stimulus package under negotiation in the Senate to combat the economic damage from the coronavirus pandemic will likely total more than $2 trillion, White House Economic Advisor Larry Kudlow said on Saturday.
The package is equal to about 10% of U.S. economic output, Kudlow told reporters as he went to a meeting with Republican senators on Capitol Hill. It’s a major escalation at roughly twice the size of the package the administration requested only several days ago.
“We’re just trying to cover the right bases,” Kudlow said. He also said that small businesses would receive a payroll-tax holiday, though it’s unclear whether that’s been agreed upon …continued .
[Source: CNBC News]