Second stimulus control now possible, says McConnell

Senate Majority Leader Mitch McConnell said the second stimulus checks “could” be in the next stimulus package.

This is what you need to know.

Second stimulus control and more

At three press conferences in Kentucky today, McConnell shared what he believes will be included in the next stimulus package, including the possibility of a second stimulus check. McConnell said he hopes the next stimulus bill will be completed. this month, and will focus on reopening the economy and creating jobs. If this schedule is met, this means that second stimulus checks could be sent as early as August. Here’s what McConnell thinks will be in the next stimulus bill:

  • Second stimulus checks: McConnell said that Americans “could well” receive a second stimulus check. This is a new position for McConnell, who previously opposed second stimulus checks. President Donald Trump has called for a second round of stimulus checks, and Trump can sway Republicans in the Senate to include second stimulus checks in the stimulus package.
  • Who receives a second stimulus check? However, not everyone can receive a second stimulus test. McConnell did not discuss the eligibility criteria, but did refer to the fact that Americans earning $ 40,000 or less a year, especially in the hotel industry, have been the most affected. The first stimulus check was available to Americans with an adjusted gross income of less than $ 99,000 for individuals. Will a second stimulus check be only for Americans earning $ 40,000 or less? McConnell did not specify, but did refer to this threshold, which might suggest a more limited and specific second stimulus control. This is similar to what White House economic adviser Larry Kudlow said about Fox Business. Kudlow said the second stimulus checks could focus on those who lost their jobs and need the most financial assistance. Many Senate Republicans have opposed a second stimulus check, believing that it does not help stimulate the economy, can help people not directly affected by Covid-19, and adds to the national debt.
  • Civil liability protection: McConnell reiterated the need for liability protection of Covid-19 lawsuits for companies, including hospitals and schools. This could be a retroactive five-year liability protection for 2019 through 2024.
  • State and local financing: Democrats and Republicans can find common ground by sending federal aid to states and localities. This will be particularly essential for states affected by the Covid-19 pandemic.
  • Wear a mask: McConnell said the best thing you can do to protect yourself and your friends is to wear a mask. McConnell said if you don’t want the economy to shut down, wear a mask.
  • Final stimulus: Don’t wait for more stimuli after this stimulus package. McConnell said this is the latest stimulus bill, citing high federal debt.

McConnell continues to push for a stimulus package that is about $ 1 billion, which is much smaller than the Heroes Act, the $ 3 trillion stimulus package approved by House Democrats. If the second stimulus checks are aimed at a lower income threshold, such as $ 40,000 or less, this would provide more ceiling for additional high-priority economic stimuli, such as a payroll tax cut, a return-to-work bonus, a $ 4,000 travel credit and an infrastructure plan, among other incentives to create more manufacturing jobs. That said, McConnell says he is focused on the economy, employment, health care, and school opening. McConnell does not appear to be focused on student loans or student loan forgiveness for the next stimulus. The next stimulus bill will be drafted by Senate and White House Republicans, with some input from Senate Democrats. Congress can vote on the upcoming stimulus bill before leaving for the summer recess on August 7.

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