As the pandemic continues to disrupt the lives of many, it’s also having a major impact on the economy.
Reported on Forbes, the White House will be negotiating how the next stimulus bill will look like. Donald Trump plans on meeting with Senate Majority Leader Mitch McConnell and House Minority Leader Kevin McCarthy to “fine-tune” the details. Trump is supportive of a second stimulus check, it’s not clear how much they are looking to send out. McConnell wants the bill to target those who make less than $40 k a year. Trump is also demanding a payroll tax cut and said he won’t consider signing it if there isn’t one.
Since unemployment benefits will expire at the end of July, they will also discuss the future of unemployment payments. Democrats want it to be extended while Republicans believe the $600 payment is “too generous,” and a better solution would be to implement a “return to work bonus,” and lower the unemployment payouts.
The White House reportedly doesn’t have too much time to negotiate since there are only 10 business days until the House of Representatives goes on recess.