Treasury Secretary Steven Mnuchin says Republicans are set to roll out the next COVID-19 aid package on Monday.
, 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. That strategy enabled McConnell , who did not have full support from his GOP majority, to avoid having to force a vote and 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 by the end of the month.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK Producers Say Shoots Worth $1.3BN May Be At Risk Unless Government Acts Urgently Over Emergency Insurance FundEXCLUSIVE: The UK film and TV industry’s hopes of securing an emergency coronavirus insurance fund have reached a critical juncture, with an estimated £1BN ($1.3BN) backlog of productions at …
Read more »
Mnuchin: Virus aid package soon, $1,200 checks by AugustWASHINGTON (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...
Read more »
Elon Musk: ‘Another government stimulus package is not in the best interests of the people’The Tesla CEO said a second coronavirus aid package would be ‘jammed to the gills’ with special interests
Read more »
Are Trump and the GOP right that the $600 unemployment bonus is discouraging work?Unemployed Americans will lose a vital economic lifeline within days if Congress fails to pass a new coronavirus relief package soon.
Read more »