US Senate’s coronavirus package would be worth more the US$2t

WASHINGTON, March 21 — The coronavirus stimulus package being negotiated by the U.S. Senate would be worth more than US $2 trillion(RM8.8 trillion), White House economic adviser Larry Kudlow said on Saturday.

“The package is coming in at about 10 per cent of GDP,” Kudlow told reporters. Asked if that amounted to more than US$2 trillion, Kudlow said: “That’s correct.”

“We’re just trying to cover the right bases,” Kudlow said as he entered the talks. “It’s a problem of weeks and months, not years. We just want a bridge.”

Kudlow also said lawmakers are considering a payroll tax holiday for small businesses. — Reuters