The coronavirus economic stimulus package being negotiated in a late session by the Senate Saturday will exceed $2-T, according to estimates by the White House National Economic Council Director Larry Kudlow.
“The package is coming in at about 10% of GDP,” Mr. Kudlow said. “It is very large.”
That would mean more than $2-T, a reporter countered to Mr. Kudlow. “That’s correct,” Mr. Kudlow responded
The US GDP is $21-T
Mr. Kudlow said small businesses will be getting a payroll tax holiday under the stimulus bill, which is still under negotiations.
It was not immediately clear whether that figure included a supplemental spending proposal that Democrats support adding to this Phase 3 plan.
Have a healthy weekend, stay at home!