President Donald Trump on Monday provided an update on pending legislation to stimulate the economy after months of lockdowns during the COVID-19 pandemic.
When he was asked by a reporter, Joe St. George, about the possibility of another direct stimulus payment, Trump said, “Yeah, we are” going to send out another check.
“We had this going better than anybodys ever seen before. We had the best job numbers, the best economics, the best economy weve ever had, and then we had the virus come in from China,” Trump remarked. “Now were rebuilding it again.”
Trump later said that the White House will push for “another package” that will “be very good,” and “itll be very generous.”
The president didnt say how much would be sent out, but his remarks on Monday were the first time that he specifically mentioned the possibility of the next package containing a widely distributed stimulus payment or check.
When he was asked about when the measure would be unveiled, Trump said that he believes that “its going to be over the couple of weeks, probably,” and it will “be bi-partisan.”
In March, Congress passed the $2.2 trillion CARES act that sent up to $1,200 to eligible Americans, provided small business relief, expanded unemployment insurance payments of $600 extra per week, and other measures to offset economic losses incurred during the CCP (Chinese Communist Party) virus pandemic. The payments were sent out starting in mid-April.
While no final decisions have been made on a stimulus package, White House economic adviser Larry Kudlow told CNBC earlier in the day that the House, Senate, and White House will coordinate on some type of relief package after the July recess.
“Things the president has talked about publicly. He has talked about a payroll tax holiday for the workforce, hes occasionally talked about capital gains tax relief,” Kudlow said.
“He wants to help out with some form of tax relief. Restaurants, entertainment, athletic contests, things of that sort,” he added. “We want to help out the tourism business, which has been hurt very badly. We also want to reward people who Read More From Source