Trump adviser Kevin Hassett says 4th coronavirus stimulus is coming
Targeted bill will aim to help industries that have struggled most, Hassett says
A top White House economist told FOX Business' Gerry Baker that Washington will definitely be spending more money in coronavirus relief.
"Absolutely, 100 percent, there will be another stimulus bill of some sort," senior adviser to President Trump Kevin Hassett said on “WSJ at Large”. "The question is what shape will it take."
Hassett pointed out the administration wants to take stock of how the previous three stimulus programs have performed before making any decisions on a fourth.
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"Our view is we need to collect data from now until the end of July, assess the situation on the ground and then have a targeted bill," he explained.
He added this "targeted" bill will be aimed at those industries that have struggled the most because of the virus lockdowns.
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"The president stated that we’re probably going to have to have some targeted help for the travel and leisure industry because that’s the hardest hit, and it’s going to be slowest to come back," he mentioned. "Other pockets like that might emerge in July that we see that might require some targeted policies and we’re studying it."
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Hassett indicated the White House is also considering giving financial assistance as an incentive to get the unemployed to return to the labor force.
"When somebody goes back to work, they might have a lot of costs associated with that, they’ve got to find child care and so on," he noted. "And if we’re, say, on the hook to pay unemployment for another 20 weeks if you give someone an incentive to get back to work sooner, then you can actually save the taxpayers money and help the person get back to work. So, it’s definitely something we’re studying."