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On The Money: Democrats eye infrastructure in next coronavirus package | Mnuchin touts online system to speed up relief checks | Stocks jump despite more stay-at-home orders

On The Money: Democrats eye infrastructure in next coronavirus package | Mnuchin touts online system to speed up relief checks | Stocks jump despite more stay-at-home orders

Happy Monday and welcome back to On The Money. I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.

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THE BIG DEAL--Democrats eye major infrastructure component in next coronavirus package: With the ink barely dry on a massive, $2 trillion coronavirus relief package, House Democrats are already laying out their targets for the next round of emergency aid, including major investments in the nation's infrastructure systems.

Such a funding boost would not only promote public health by updating systems like public drinking water and telemedicine, they argued, it would also create jobs and provide a shot in the arm for an economy devastated by the virus. The Hill's Mike Lillis explains here.

Flashback--March 3, 2020: Treasury Secretary Steven MnuchinSteven Terner MnuchinOn The Money: Funding bill hits snag as shutdown deadline looms | Pelosi, Schumer endorse 8 billion plan as basis for stimulus talks | Poll: Most Americans support raising taxes on those making at least 0K Pelosi, Schumer endorse 8 billion plan as basis for stimulus talks Katie Porter in heated exchange with Mnuchin: 'You're play-acting to be a lawyer' MORE said Tuesday that infrastructure spending would be a "priority" for President TrumpDonald John TrumpFederal watchdog accuses VOA parent company of wrongdoing under Trump appointee Lawsuit alleges 200K Georgia voters were wrongly purged from registration list Ivanka Trump gives deposition in lawsuit alleging misuse of inauguration funds MORE if the economy requires stimulus to power through a slowdown caused by a coronavirus outbreak.

 

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LEADING THE DAY

Mnuchin: Administration working on online system to help people get coronavirus relief checks faster: Treasury Secretary Steven Mnuchin said Sunday that the administration is working to create an online system that will allow people to submit their direct-deposit information to the government so that they can receive their coronavirus relief checks more quickly.

  • The coronavirus relief law that President Trump signed on Friday creates a program under which people will receive one-time direct payments from the Treasury Department. 
  • For individuals making less than $75,000 and married couples making less than $150,000, the checks amount to $1,200 per adult and $500 per child. The rebate amounts phase out above those income levels. 

Mnuchin has said that he expects taxpayers who have provided direct deposit information to the IRS to receive their checks within three weeks.

Mnuchin's comments come as he has taken on a critical role in the Trump administration's response to the coronavirus by serving as a key conduit between Trump and Congress.

  • Mnuchin has helped shepherd through two massive legislative packages aimed at helping address the public health crisis and the ensuing economic fallout, engaging constantly with Democratic leaders despite the considerable partisan divide that has plagued Washington.
  • He's also been omnipresent at socially-distanced White House briefings and in the halls of Congress as the administration tackles what has become Trump's largest crisis and the biggest test of his leadership.

The Hill's Morgan Chalfant and Niv Elis have more here.

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GOOD TO KNOW

 

ODDS AND ENDS

  • SeaWorld plans to furlough most of its employees as the company has seen crowds disappear at its theme parks across the U.S. due to the coronavirus outbreak.