Treasury Secretary Steven Mnuchin on Saturday said the next phase of the Wuhan coronavirus relief package is ready to be rolled out on Monday. Republicans are expected to announce a $1 trillion proposal which would include another round of stimulus checks.
According to Mnuchin, Americans can anticipate a $1,200 stimulus check sometime in August. The same stipulations will take place as the first round of stimulus payments. Individuals making $75,000 or less will receive $1,200. Those making more than $75,000 will receive some type of stimulus but it won't be the full amount. Those making $100,000 or more per year will not qualify.
“We’re prepared to move quickly,” he told the Los Angeles Times.
Republicans in the House and Senate, along with President Donald Trump, are all working together on this proposal. Mnuchin reportedly called Democratic Leadership – including House Speaker Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) – before negotiations begin next week.
“The president has been very clear. He wants to make sure that the American people have what they need during this unprecedented time,” Trump's chief of staff, Mark Meadows said. The president wants “to make sure not only the money is there but the programs.”
The one area in question is unemployment. The White House reportedly wanted to drop the weekly rate by $100, from $600 per week to $500 per week. Republicans, on the other hand, wanted to see the weekly rate drop by $200, from $600 per week to $400 per week. The idea is that cutting back unemployment benefits will encourage Americans to get back to work.