As the economic devastation caused by the coronavirus pandemic continues, some help may be coming. White House economic adviser Larry Kudlow told CNN’s Jake Tapper on Sunday that the new draft stimulus bill being unveiled tomorrow includes another $1,200 check, similar to the ones authorized under the CARES Act back in March.
After Kudlow and Tapper had a heated exchange about the state of the economy and the unemployment struggles of many Americans, including the Trump administration’s proposed cuts to unemployment benefits, Kudlow brought up the second stimulus check. The additional $600 in weekly unemployment benefits many Americans were receiving ended this week.
“I just want to add, Jake, I just want to add we are talking about employment benefits and so forth,” said Kudlow. “Don’t forget there’s a $1,200 check coming that is going to be part of the new package.”
Kudlow said that he would have preferred an additional payroll tax cut but “politically it doesn’t work,” but “the check is there, the reemployment bonus is there, the retention bonus is there,” in addition to tax breaks and credits for restaurants and other small businesses.
The original stimulus checks under the CARES Act paid up to $1,200 per American with an additional $500 per dependent child, subject to income limitations.
Kudlow called the bill “a very well rounded package…a very well targeted package,” that he thought would “provide a great safety net until we get a strong recovery,” urging Tapper to “try and be optimistic.”
“People — people need that money as soon as possible,” Tapper responded. “People are worried about being evicted — in days, literally in days.”
“We’ll lengthen the eviction,” Kudlow responded. “Thanks, Jake. Appreciate it.”
“The eviction moratorium?” Tapper clarified. “OK, well that’s good news.” The federal eviction moratorium, like the additional unemployment benefits expired this week, leaving many Americans potentially at risk for being evicted as monthly rent comes due at the beginning of August.
Treasury Secretary Steve Mnunchin also mentioned the new stimulus package including another $1,200 check in an appearance on Fox News Sunday. He had previously said that Americans could expect another round of checks to be sent in August.
The final language of the new bill has not yet been released, so it is not clear whether this second stimulus check will have the same income limits and other qualifications as the first one, as CNet noted.
Mediaite reached out to several sources among Republican Senators and staff to confirm any details of the new stimulus package, but none were willing to comment on the record. The new bill is expected to be rolled out Monday afternoon.
Watch the video above, via CNN.
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