As expected, President Donald Trump has signed the largest stimulus package in American history into law today to juice up a flailing economy and deliver emergency relief to millions of workers, companies and state governments staring down financial ruin because of the coronavirus.
In brief remarks, Trump, flanked by GOP congressional leaders in the Oval Office, thanked “Democrats and Republicans for coming together and putting America first” and said it would help pave the road to economic recovery.
“I think we are going to have a tremendous rebound,” Trump said.
Now comes the hard part.
The Trump administration needs to get the money approved in the package out the door, rapidly moving hundreds of billions of dollars into the economy in the form of direct payments, loans and grants to hard-hit industries.
It's a bit of an open question as to how long it's going to take to get the checks into the hands of the people and businesses who need them.
U.S. Treasury Secretary Steven Mnuchin has said he wants the payments to go out within three weeks. Senate Minority Leader Chuck Schumer, however, said the president hopes the IRS can start sending the money much sooner than that, on April 6.
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