Larry Kudlow calls coronavirus aid bill ‘largest package, especially aimed at the middle class’ in US history
Larry Kudlow on efforts to stabilize the US economy, timeframe for re-opening America
We are facing a temporary, short-lived contraction but the underlying strength the U.S. economy should come back very quickly, says Larry Kudlow, director of the National Economic Council.
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National Economic Council Director Larry Kudlow joined «Hannity» Friday to talk about the $2 trillion coronavirus response bill President Trump signed earlier in the day, and and predicted that Americans would begin to receive money from the bill «in the next couple of weeks.»
«Sean, you’ve got about $600 billion of assistance to individuals, workers and families,» Kudlow told host Sean Hannity. «And overall, this is the largest package, especially aimed at the middle class, in the history of the United States. It’s economic assistance. You know, it’s going to stabilize the economy.»
«And you’ve got another roughly $400 billion for small businesses to take down their payrolls, their revenue laws and their expenses,» Kudlow added. «You can’t have a good job without a functioning business here.»
Kudlow said he was «prayerfully» hoping that the size of the government’s response would mean the ecomony would be poised to «take off» in the next two months.
«The Fed is stabilizing the financial markets so that when this virus runs its course and prayerfully, it’ll be the next four to six weeks, maybe eight weeks, something like that,» he said.
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Kudlow told Hannity the focus was on keeping families and small businesses «whole.»
«We want to try to keep individuals and their families, we want to keep them whole. We want to keep them whole,» he said. «They may need the unemployment check. They may need the direct check from the Treasury so they can keep it all, get through family finances, take care of the kids and so forth and so on.»
Fox News’ Marisa Schulz and Chad Pergram contributed to this report.
