THE next coronavirus relief bill is expected to include cash payments of $1,200, according to reports.
A second round of stimulus checks could arrive soon and the same amount of money could be handed out to Americans as the original $2.2 trillion CARES Act, which first passed in March.
Speaking to reporters on Thursday, Treasury Secretary Steve Mnuchin said: “We’re talking about the same provision as last time, so our proposal is the exact same proposal as last time.”
Republicans unveiled a new $1 trillion coronavirus rescue package on Thursday – after the White House dropped its request for a cut to Social Security payroll taxes.
It has been four months since President Donald Trump signed the CARES Act to provide million of Americans with coronavirus stimulus checks.
March’s CARES act – which stood for the Coronavirus Aid, Relief and Economic Security Act – provided for $1,200 checks to be sent to every adult whose income was under the threshold.
Children under 17 were eligible for $500 each.
Both Republicans and Democrats have agreed on another round of $1200 stimulus checks.
The $600 weekly Pandemic Unemployment Assistance set to expire on Friday will likely be reduced to $200 and then adjusted to state jobless benefits rates.
During an appearance on CNBC Thursday morning, Mnuchin said President Trump’s priorities lie in helping schools and unemployed Americans.
“We’re not going to pay people more money to stay at home than work,” Mnuchin said.
He explained that unemployed Americans should expect to “get a reasonable wage replacement,” based on a “70 percent wage replacement.”
Mnuchin also said Trump’s bidding on the payroll tax cut “won’t be in the base bill” but could make an appearance in the future.
Senate Majority Leader Mitch McConnell’s $1 trillion stimulus package was announced Thursday – but the public unveiling of the plan has been delayed as disagreements remain.
Republican Senators and President Donald Trump don’t agree on some aspects of the plan.
And Democrats argue that the current package doesn’t provide enough aid to poverty-stricken cities and states scrambling for funds while facing health crisis and record-high unemployment numbers.