Trump wants a second round of stimulus checks on ‘bigger numbers’ than Democrats


TOPLINE

In an interview with Fox Business on Wednesday, President Trump said he supports a second round of direct payments to people: It is the first time he has publicly declared his support for the idea, which has been the subject of heated debate among lawmakers in Washington in recent years. weeks.

KEY FACTS

“In fact, I support a larger number than the Democrats,” he said, “but it must be done correctly.”

The CARES Act authorized the IRS to send direct payments of $ 1,200 to qualified Americans, plus $ 500 for dependent children under the age of 17; Those payments started coming out in April.

Last week the Washington Post He reported that although Trump had privately expressed support for another round of checks, some officials from his administration are not on board.

According to the Send In the report, which cited three people familiar with the White House’s internal deliberations, Trump believes that more direct payments will help prop up the economy and increase his chances for re-election in November.

Trump also hinted at the future of the federal unemployment benefit of $ 600 per week, which will expire in late July, established by the CARES Act: “We had something … where it discouraged you from working last time.” said. “We want to create a great incentive to work.”

Senate Democrats on Wednesday presented a plan to extend additional federal unemployment benefits and then phase them out when state unemployment levels reach certain thresholds.

Crucial quote

“I want the money that goes to people to be bigger so they can spend it,” Trump said after asked if he wanted bigger stimulus checks or higher federal unemployment benefits. “I want the money to come quickly and in an uncomplicated way.”

BIG NUMBER

The IRS sent 160.4 million direct payments under the $ 2.2 trillion CARES Act signed by President Trump in March. In total, those payments were worth $ 269 billion.

Key background

As the United States faces an alarming increase in new coronavirus cases and with several key provisions of the CARES Act, such as expanded unemployment insurance and the Paycheck Protection Program, about to run out, lawmakers In Washington they still argue about what the next federal aid package should look like. On Tuesday, House Speaker Nancy Pelosi (D-Calif.) And Senate Minority Leader Chuck Schumer (DN.Y.) urged Senate Majority Leader Mitch McConnell (R) on Monday. -Ky.), Who has said that the Senate will consider new legislation in July: to restart discussions on coronavirus relief immediately. The $ 3 trillion Heroes Act, a piece of the economic bailout legislation that included aid to state and local governments and another round of stimulus controls, was passed by the House last month but has been widely criticized by Republicans and it is unlikely that it will go to the Senate in its current form.

Further reading

Here’s what is really happening with that second stimulus check: Trump is on board, but Republicans may not be. (Forbes)

With Senate Republican MIA, Pelosi and Schumer urge McConnell to restart stimulus negotiations immediately (Forbes)

When asked about the possible second stimulus control, Trump says there will be a second bipartisan package. (Forbes)

Mnuchin pushes for more coronavirus relief costs as PPP is hailed as a success (Forbes)