Trump administration to 'spend what we need to spend' on coronavirus package, Mnuchin says

The Trump administration is pushing a package with a $1 trillion price tag.

Treasury Secretary Steven Mnuchin on Tuesday said the Trump administration is prepared to "spend what we need to spend" in the next coronavirus relief package, which officials hope to be complete by the end of the month.

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"We're going to spend what we need to spend," Mnuchin told reporters Tuesday on Capitol Hill, as the Trump administration is pushing a package with a price tag of $1 trillion.

The comments came as Mnuchin and White House chief of staff Mark Meadows meet with congressional lawmakers to discuss what could be included in the next coronavirus package.

MCCONNELL SAYS ECONOMY NEEDS 'ANOTHER SHOT OF ADRENALINE' IN NEXT CORONAVIRUS PACKAGE

A senior source told Fox News that approximately 10 Republican senators on Tuesday supported President Trump’s push to have a payroll tax cut included in the next bill.

Treasury Secretary Steven Mnuchin speaks during a House Small Business Committee hearing on oversight of the Small Business Administration and Department of Treasury pandemic programs on Capitol Hill in Washington, July 17, 2020. (Erin Scott/Pool via

President Trump is continuing to push for a cut in the payroll tax – levies that companies pay on behalf of their employees to fund Social Security and other benefits – as part of the package.

Many Republicans are reluctant to approve such a reduction, though, over deficit concerns. However, advocates in the administration believe the payroll tax would jolt the economy quickly.

"That will be in there," one senior source close to the talks said of the payroll tax, characterizing it as the president's "number one ask."

Meanwhile, Mnuchin, on Monday, said the administration was "focused on starting with another trillion dollars."

MNUCHIN SAYS LEADERS ARE 'STARTING WITH ANOTHER TRILLION DOLLARS' FOR NEXT CORONAVIRUS PACKAGE

"We think that will make a big impact," Mnuchin said Monday, while noting that "the focus is kids and jobs," and that the goal is to have the package in place by the end of this month.

Mnuchin also said lawmakers are aiming to pass the new legislation before the end of July, when the current "enhanced unemployment insurance" expires.

The administration also supported liability protections, with Mnuchin saying this week that they "want to make sure that frivolous lawsuits don't prevent schools, universities and businesses from reopening."

Also Tuesday, Senate Majority Leader Mitch McConnell on Tuesday made clear he supports another round of stimulus checks to Americans — something the president and top members of his administration have said they, too, support.

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"The economy needs another shot of adrenaline," McConnell said Tuesday. "If we lose control of the virus…everything else will be window dressing."

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Fox News' Chad Pergram contributed to this report.