Trump administration wants next stimulus package to protect unemployed
The White House wants a deal by August 3 with a budget capped at $1 trillion
The Trump administration wants the next stimulus package focused on unemployed Americans, passed before the August recess, and capped at $1 trillion.
Marc Short, who serves as Vice President Mike Pence‘s chief of staff, told Bloomberg Radio on Tuesday that a “lot of stimulus” was injected into the economy following the outbreak of the coronavirus pandemic. There have been four bills passed since March to help businesses impacted by the virus. The latest package would be focused on those who are still unemployed.
“I think we want to make sure that people that are still unemployed or hurting are protected, but at the same time we want to take into consideration the fact the economy is bouncing back and want to try to contain the amount of spending,” Short said.
Pence’s top aide said it was necessary to limit the funds this go-round and citing the CARES ACT. Congress unanimously passed the $2.2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act in March to help out small businesses and the airline industry. The Paycheck Protection Program was a $650 billion loan program created under CARES.
There was also a $1,200 stimulus payment sent to taxpayers who qualified under certain economic criteria.
“There’s obviously been a lot of stimulus put in the system over the last couple bills, and so the price tag for us would be that.”
Congress is scheduled to begin a recess on August 3 and lawmakers leave the following week. Short is using that timetable for a deal to be struck.
“We want to have a bill on the president’s desk,” Short said.
Senate Majority Leader Mitch McConnell seemed ready to do his part to make sure that those impacted would receive financial help. On Monday, he stated that the proposed stimulus should be focused on those who make 40,000 or less.
“Many of them work in the hospitality industry. The hospitality industry, as you all know, just got rim-racked…so that could well be a part of it,” he said.
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