McConnell will present coronavirus stimulus package to Republicans next week: Report
White House Economic Adviser Larry Kudlow confirmed to FOX Business on Monday that there would be another bill
Lawmakers are expected to begin discussing proposals for another stimulus package when members of the Senate return to the Capitol next week.
Senate Majority Leader Mitch McConnell said on Monday that he will have a package ready to present to Republicans next Monday, Bloomberg reporter Nancy Ognanovich posted to Twitter. After those discussions, the bill would be taken up with Democrats.
McConnell has said he expects legislation would be passed before August when lawmakers leave for a recess.
SECOND STIMULUS CHECK WOULD BE SMALLER: LARRY KUDLOW
On Monday, White House economic adviser Larry Kudlow told FOX Business that he could “conclusively” say there will be another package given a consensus on the need for additional stimulus measures among both Republicans and Democrats.
The Trump administration has put forth a number of proposals that it has said it would like to see included in the legislation, including another round of more targeted stimulus checks. Those checks would be sent to lower-income and unemployed individuals, and will likely be smaller than $1,200, according to Kudlow.
The reasoning behind the more concentrated criteria is that the White House is hoping to keep the cost of an additional package down, with a figure of $1 trillion or less floated by officials.
Another round of stimulus payments could be distributed to people earning less than $40,000, McConnell has said.
WHO MIGHT BE ELIGIBLE FOR A SECOND STIMULUS CHECK AND FOR HOW MUCH MONEY?
Kudlow did say, however, that another stimulus package could include unemployment reforms. The $600 benefit bump given to Americans claiming unemployment insurance is scheduled to expire at the end of the month.
Democrats have proposed extending the additional $600 benefit, but Republicans are concerned that it discourages people from seeking out new employment because many are being paid more with the benefit than they had been while they were working.
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Kudlow mentioned a "back-to-work bonus" on Friday, which would provide an incentive for people to return to the workforce.
And on Monday, he once again advocated for a payroll tax holiday, as well as possibly as capital gains tax holiday.