This is breaking news. Please check back for updates.
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that he is part of ongoing discussions with congressional lawmakers about a potential infrastructure bill that would be designed to help boost the U.S. economy as it struggles to cope with the fallout from the coronavirus outbreak.
“As you know, the president has been very interested in infrastructure. This goes back to the campaign: The president very much wants to rebuild the country,” Mnuchin told CNBC’s David Faber. “And with interest rates low, that’s something that’s very important to him.”
“We’ve been discussing this for the last year with the Democrats and the Republicans. I’ve had ongoing conversations with Richard Neal on this. And we’ll continue to have those conversations,” he added.
The secretary’s comments to CNBC came after President Donald Trump on Tuesday called for the U.S. to spend trillions of dollars on a massive infrastrucuture package. In a tweet, the president wrote that “this is the time” to craft an infrastructure overhaul with U.S. interest rates at zero during the crisis.
“It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4,” the president said, referencing the three pieces of emergency legislation lawmakers have already passed to help American workers dealing with the consequences of the COVID-19 contagion.
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.