Send another incentive check with Kovid Relief Fund

President Donald Trump says that Congress needs Now send another check And Use $ 300 billion in remaining Kovid relief fund.

Here you need to know.

stimulus package

During Friday’s remarks at the White House, Trump said Congress should redirect the unused coronavirus relief fund to fund a second stimulus check for the American people.

“Now, we have an account for $ 300 billion, which we haven’t used – $ 300 billion,” Trump said. “And we are ready to use it. I am ready to issue it, subject it to Congress, and use it as an incentive, and that would be right for the American people. So we have $ 300 billion sitting in an account that we didn’t need because things are going so well with the economy. ”

according to this Fox business, Trump may mention appropriated funds for small business loans. As part of the CARS Act – the $ 2.2 trillion stimulus package that Congress approved in March – Congress appropriated $ 500 billion. Of that amount, $ 454 billion was appropriated to cover losses on lending programs. Of that funding, $ 259 billion Remains unaffected.

“Again, we have $ 300 billion ready to go,” Trump said. “All Congress has to say,” use it. “If they say,” use it “- I want to use it without their permission, but I think I am not allowed to do it. I asked that question. So Congress just has to say,” Use it. “All they have to say is” use it “; $ 300 billion is immediately put into our system, and will really help the American people. There’s nothing else to do – just a Very quick statement. “

Democrats and Republicans in Congress have agreed in principle on a $ 1,200 second incentive check for individuals and a $ 2,400 check for married / joint filers, the same amount as the first incentive check. However, Republicans want $ 500 for dependents, while Democrats call $ 1,200 for each dependent, with a maximum of three dependents. Following a deadlock over the broader stimulus package, Congress has not approved a second stimulus investigation after going for summer vacation in mid-August.

Excitement update: Congress back in session

The Senate is back in session tomorrow. What is the latest update on incentives? Senate Republicans may introduce a new “slim” stimulus bill earlier this week. The new stimulus law could be about $ 500 billion, roughly half the size of the Heels Act, which Senate Republicans proposed earlier this summer. This new stimulus bill may cover many areas where there may be bipartisan support on policy matters, but not necessarily on the money amount:

  • $ 300 weekly unemployment benefit
  • $ 105 billion in school funding
  • $ 250 billion in financing for the Payment Protection Program (PPP)
  • US Postal Service grants $ 10 billion

However, the new stimulus bill No investigation is expected to be involved. However, it is possible after Trump’s remarks that Republicans could change the proposed legislation to include a second round of checks. Will this new law pass? it’s unlikely. While more Senate Republicans would support a smaller legislative proposal, Democrats want Big bill. Speaker Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-CA) are also unwilling to agree on a smaller bill than the Heels Act, which was deemed too small to be $ 1 trillion. Democrats initially proposed a $ 3 trillion stimulus package (Heroes Act), though Pelosi said Democrats would be prepared to agree to a $ 2.2 trillion bill.

“The speaker has refused to sit down and negotiate until we consider something like a $ 2.5 trillion deal,” said Treasury Secretary Steven Menuchin. Fox news sunday. “Let’s bill more targeted now and if we need to do more in 30 days then we will continue to do more, but let’s not need more support American workers and American businesses.”

Democrats want $ 1 trillion for state and local governments, $ 600 weekly unemployment benefits and $ 60 billion for food insecurity, among other initiatives.

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