(Bloomberg) -- The Trump administration is discussing another stimulus package with lawmakers that could be passed in July, the latest effort to revive the U.S. economy amid the coronavirus pandemic, said Treasury Secretary Steven Mnuchin.
“It’s something we’re very seriously considering,” Mnuchin said Tuesday in an interview during the Bloomberg Invest Global virtual event. He said he expects the U.S. economy to exit recession by year’s end.
President Donald Trump has said he’s considering sending another round of economic stimulus payments in a rescue package that he expects will be released “over the next couple of weeks.” Stocks rose Tuesday on optimism for more stimulus.
The Trump administration has privately discussed a $1 trillion measure as a way to stimulate jobs growth after the Covid-19 pandemic.
Trump signed a $2.2 trillion stimulus into law in late March that’s provided payroll support to small businesses, $1,200 direct payments to families and boosted unemployment checks for millions of people out of work. The small business program’s initial $350 billion was later retopped with $310 billion.
The stimulus came after stay-at-home orders and social distancing measures were put in place to slow the spread of the coronavirus. The virus has killed more than 120,000 people in the U.S. and put millions of people out of work.
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