Stimulus check generic

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Saturday that Republicans were set to roll out the next COVID-19 aid package Monday and assured there was backing from the White House after he and President Donald Trump's top aide met to salvage the $1 trillion proposal that had floundered just days before.

Mnuchin told reporters at the Capitol that extending an expiring unemployment benefit — but reducing it substantially — was a top priority for Trump. The secretary called the $600 weekly aid “ridiculous” and a disincentive for people to go back to work. He also promised a fresh round of $1,200 stimulus checks would be coming in August.

“We're prepared to move quickly,” Mnuchin said after he and Mark Meadows, the president's acting chief of staff, spent several hours with GOP staff at the Capitol. He said the president would “absolutely” support the emerging Republican package.

Mnuchin’s optimistic assessment came before Democrats weighed in publicly on the updated proposal, which remained only a starting point in negotiations with House and Senate leaders in the other party. He said he recently called House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer ahead of shuttle negotiations next week on the broader deal.

The White House and Senate Republicans were racing to regroup after plans to introduce a $1 trillion virus rescue bill collapsed Thursday amid GOP infighting over its size, scope and details. It was expected to bring $105 billion to help schools reopen, new money for virus testing and benefits for businesses, including a fresh round of loans, tax breaks and a sweeping liability shield from COVID-related lawsuits.

As Republicans struggled, the White House team downplayed the differences with the GOP senators as overblown and said Trump was focused on providing relief.

“The president has been very clear. He wants to make sure that the American people have what they need during this unprecedented time," Meadows said, "to make sure not only the money is there but the programs.”

The expiration of the $600 weekly jobless benefits boost had been propelling the Republicans to act. Democrats already approved their sweeping $3 trillion plan from Pelosi two months ago. But with millions of Americans about to be suddenly cut off from the aid starting Saturday, they were bracing to prevent social and economic fallout.

The White House floated plans to cut the additional aid back to $100 a week, while Senate Republicans preferred $200, with general agreement about phasing out the flat boost in favor of one that ensures no more than 70% of an employee's previous pay.

Mnuchin also said the $1,200 direct payments would be based on the same formula from the earlier aid bill. Individuals making $75,000 or less, for example, received the full amount and those making more than $75,000 received less than $1,200 depending on their income. Individuals earning above $100,000 did not qualify for the payment.

“We’ll get the majority of them out in August and those will help people,” Mnuchin said.

The administration officials said the overall package remained at $1 trillion, apparently on par with Senate Majority Leader Mitch McConnell's original draft.

Democrats had warned time was running out, saying Republicans were in disarray.

The jobless benefit officially expires July 31, but due to the way states process unemployment payments, the cutoff was effectively Saturday. Other aid, including a federal eviction moratorium on millions of rental units, also expires at month’s end.

The GOP plan was not expected to come to a vote but serve as a counter-offer to Democrats. That strategy enabled McConnell, who did not have full support from his GOP majority, to avoid having to endure a failed outcome. But it also gave Democrats some leverage in insisting on their priorities as part of any final deal.

The path ahead remained uncertain, but both sides were scrambling to reach a deal.

McConnell, who spent time over the weekend in his home state of the Kentucky, said Friday he hoped a package could be agreed on “in the next few weeks.”

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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(5) comments

rick be

The $1,200 is chump change but will pay the rent for a poor person for a month or two.

Giving the extra $100 could keep the unemployed solvent,but looking fervently.

Blavigne recent news, it was stated that 24 million americans were worried they can't make their next rent payment....but go ahead and vote on decreasing what people get so they suffer even political knotheads need your head examined

rick be

Yeah,recent"fake news",this is the smartest move the GOOP has made lately.


We no longer have an economy, we have an “economy”. The primary product produced by our “economy” is free money. We used to exchange goods and services. Now we exchange trillions in worthless paper and digital “money” for a dwindling supply of goods. In our “economy”, the government’s primary role is to create “wealth” out of borrowed money. Their other major role is to forbid most economic activity, thereby making tens of millions of people dependent on welfare and on “stimulus checks”. This is deemed to be an appropriate response to a “pandemic”.

We have had other major epidemics. The “Spanish flu” claimed 675,000 US lives in 1918-1919. The “Asian flu” killed 116,000 lives during 1957-1958. The “Avian flu” claimed 100,000 deaths during 1968-1969. The claimed current US death total for Covid-19 is 132,366. This total is disputed. Hospitals get a 20% Medicare premium above and beyond what they are paid for every claimed Covid-19 death. If a patient dies of some other cause, but also tests positive for Covid-19, their death is deemed to be caused by Covid-19. Patients who die without a Covid-19 test, but where the physicians determine that their death MIGHT have been a consequence of Covid-19, are counted. So, the Covid-19 death toll, while still significant, is obviously overstated.

The policy response to this epidemic has been nothing like previous epidemics. Vast areas of the economy have been shut down. Schools have been shuttered. Welfare payments on an historically unimaginable scale have been appropriated. The effect on the National debt is an unprecedented disaster. The debt stood at $23 trillion in January. It will likely increase to $30 trillion by December. All of this without a war or a national disaster like an earthquake or hurricane.

The National Debt will never be repaid. The consequences will be hyperinflation and debt default. The tens of millions of Americans who will die of starvation, exposure, and mass civil violence will dwarf the casualty toll of any pandemic in history. Default will put an end to the United States as a country. This is what the Left wants. They will likely get their wish.

rick be

Relax,everything is going to be all right,but certainly might kick off some higher inflation for our nation.

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