Americans look for economic relief
As coronavirus continues to rock the nation, the financial concern for many families and businesses continues to rise.
U.S. Secretary of the Treasury Steven Mnuchin says the federal government is looking at sending out checks to Americans immediately.
"What we have heard from hard working Americans, many companies have now shut down, whether it's bars or restaurants, Americans need cash now and the President wants to get cash now, and I mean now, in the next two weeks," Mnuchin said.
South Dakota Congressman Dusty Johnson agrees, this is something that needs to get done to help the citizens.
"Congress is going to act, we are going to be proactive, this is one area we are not going to let petty political squabbling get in the way," Johnson said.
But relief isn't only coming from the federal level, Mayor Paul TenHaken announced today that a "One Sioux Falls Fund" is being set up to help aid those right here in the community.
"The goal of this fund is to help Sioux Falls residents avoid evictions and financial hardships if they are unable to work due to COVID-19," TenHaken said.
TenHaken says this fund, along with the federal stimulus, will hopefully ease the burden many are feeling right now.
"This is what Sioux Falls does when we have something and we have a need," TenHaken said. "In less that 18 hours we've started a fund, and we've got $700,000 in this fund already to help people in the area."
As for the amount of money that could be coming from the federal government, that's still up for discussion.
"We're going big," President Donald Trump said when asked about the matter.
Mnuchin says this is a very unique situation.
"We've put a proposal on the table the would inject one trillion dollars into the economy, and that is on top of the 300 billion from IRS deferrals," Mnuchin said.
Representative Johnson says it's important to find a dollar amount that puts the perfect jolt into the economy.
"We need to analyze these plans and figure out what is the right way, not just to help the big boys, not just to play political favorites, not just to pick winners and losers in the marketplace, but make sure what we do blunts the economic impact for small and medium businesses, and for the wage earners that are the backbone of South Dakota.
Senate Majority Leader Mitch McConnell has vowed to keep the Senate in session to approve a relief measure passed by the House, and then tackle the economic stimulus plan.
In order to grow the
, Mayor TenHaken is calling on businesses and the community to help contribute to the cause.