Good morning from the Financial Times.

Today is Friday, March 20th, and this is your FT news briefing.

Republicans in the US Senate have rolled out proposed legislation

for a fiscal stimulus package that would inject more than a trillion

dollars into the American economy.

And Paul Tucker is known for helping steer the UK economy through the 2008 global financial

crisis.

The F.T.'s Jillian Tet spoke to the former Bank of England Deputy Governor about the actions he thinks Central Banks and commercial lenders should take right now.

Plus, the only U.S. drug maker that makes a potential treatment for the

coronavirus raised the price nearly 100% as the outbreak wreaked havoc in China.

I'm Mark Filipino and here's the news you need to start your day.

Republican senators want to send a check to every American taxpayer depending on how much money they make.

It's part of a plan Republican Senate Majority Leader Mitch McConnell introduced on Thursday,

as the U.S. economy grapples with the coronavirus outbreak.

The plan includes a $1,200 payment for each adult and another $500 for every child.

But those who make over a certain amount won't qualify.

Someone earning $99,000 or more will be excluded.

Joint tax filers who make $198,000 or more are out too.

Besides putting money directly into people's pockets, the plan would also help businesses that have been hit by the pandemic.

For instance, up to $208 billion would be set aside for loans and loan guarantees with 50 billion dollars earmarked for passenger

airlines.

Under the proposed bill, the US government would be allowed to take equity stakes and companies

...