White House officials and Senate Republicans are finalizing a bill that would offer $1,200 checks to many Americans and that would not renew the full unemployment insurance enhancement that is set to expire officially this week as part of the proposal for the next stimulus bill set to be unveiled Monday, several top administration officials said Sunday.
“We want to move forward quickly, the bill will be introduced Monday, we are prepared to act quickly,” Treasury Secretary Steve Mnuchin said on “Fox News Sunday.”
White House economic adviser Larry Kudlow told CNN that $1,200 checks to Americans will be part of the new recovery package, in addition to re-employment bonuses, retention bonuses and tax credits for small businesses and restaurants.
Kudlow said the Republican proposal will lengthen the federal eviction moratorium that is lapsing just as the additional $600 a week unemployed Americans have relied upon is also set to expire.
“The original benefits will not” be in the new bill, White House chief of staff Mark Meadows said on ABC. “The original unemployment benefits actually paid people to stay home.”
Meadows said the proposal will involve offering enhanced unemployment benefits that would replace a laid-off worker’s wages up to 70%, although he acknowledged challenges some states will face in administering such a complicated benefit. He said he has worked with Mnuchin and Labor Secretary Eugene Scalia to ensure “antiquated computers” in some state benefit offices don’t stop people from receiving their benefits.
More details: The chief of staff also confirmed he and Mnuchin will return to Capitol Hill on Sunday to continue going over the details of the bill.
Administration officials dropped a push for the payroll tax cut that President Trump has repeatedly demanded after failing to secure support for it from enough Senate Republicans and after acknowledging it was a non-starter for Democrats.
"I would have preferred a payroll tax cut on top of that check, but be that as it may, politically it doesn't work but the check is there," Kudlow said.