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Monday, July 4, 2022

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Trump hinted about the second round of stimulus checks

On Monday President Trump floated the idea of another round of stimulus payments to Americans, according to Forbes. During his conversation with Joe St. George, a Washington correspondent for Scripps, Trump indicated that his administration is exploring this avenue as part of economic relief. “We will be doing another stimulus package. It’ll be very good, it’ll be very generous,” he said. However, the President declined to specify the amount of the checks, and when the payments will be distributed.

White House economic adviser, Larry Kudlow, also didn’t give too many details about the content of the upcoming package, according to Business Insider. He reiterated that “no decisions have been made” and the administration is still discussing various policies, including payroll tax holiday.  “He wants to help out with some form of tax relief for restaurants, entertainment, athletic contests, and things of that sort. We want to help out the tourism business which has been hurt very badly and we also want to reward people who are re-employing, that are going back to work. I think that’s very important,” said Kudlow during an interview with CNBC.

A second stimulus check was included in the $3 trillion HEROES Act passed by the Democrat-led House of Representatives. However, Senate Republicans do not support the second round of direct payments and called this bill “dead on arrival.” Senate Majority Leader Mitch McConnel (R-KY) indicated that the debates on the bill will have to wait until the Senate returns back from recess. “I’ve already said, we’ll be looking in July to make a decision about whether to go forward with another rescue package,” McConnell said last week.  The Senator also stated that the stimulus bill will not exceed $1 trillion if passed.

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