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The Trump administration is proposing a new stimulus package worth about $ 1.5 trillion including $ 20 billion in assistance to the aviation industry severely affected by the pandemic crisis, White House chief of staff Mark Meadows said.
Earlier it was reported that the two largest airlines in the United States, American Airlines and United Airlines had begun giving temporary leave to more than 32,000 employees on Thursday due to fading hopes of getting one last bail from Washington.
The U.S. airline has requested $ 25 billion in additional salary support from the government to cover jobs for another six months after the current aid package ended in late September.
U.S. Treasury Secretary Steven Mnuchin and House of Representatives Speaker Nancy Pelosi had previously held talks on a $ 2.2 trillion stimulus package proposed by Democrats, but voting was postponed to allow for more discussion.
However, both parties have reached an agreement on a direct payment program for Americans.
Although Mnuchin said much progress had been made in the talks, the Trump administration said it would not accept Democrats' proposals for a $ 2.2 trillion stimulus plan and proposed a $ 1.5 trillion aid package.
Despite the uncertainty in the US efforts for this stimulus package, the market remains confident that both sides will reach an agreement following the current situation of Covid-19 which could affect the economic recovery.
