New Stimulus Check: Mnuchin Says $1,200 Direct Payment May Be Sent To Same People
Another $1,200 in direct payment is likely to happen in the second round of stimulus checks for Americans, Treasury Secretary Steven Mnuchin said on Thursday.
Mnuchin said the second round of direct payments is likely to go to the same people, according to a report from Business Insider.
In a CNBC interview with Mnuchin, he said a Republican bill would extend a reduced level of federal unemployment income and have a second round of $1,200 direct payments that are like those sent four months prior.
"We're talking about the same provision as last time, so our proposal is the exact same proposal as last time," he said in a report from The Hill.
The subject of a second stimulus check had been in the minds of many Americans for months. People were given more answers this Thursday as it was confirmed that a second stimulus check will be given to those earning lower than $75,000 a year, reported the Forbes.
Mnuchin announced this as he emerged from Senate Majority Leader Mitch McConnell's office on Thursday.
According to a CNN report, he said there was a "fundamental agreement" between the White House and Senate Republicans on a $1 trillion relief package.
In May, the Heroes Act was passed by the House of Representatives. This was where the stimulus check was created. It also held $1,200 more per dependent up to three.
It was similar to the CARES Act, but still needed to move within the Senate because of its high cost. There haven't been full details on the coming package.
Timeline for GOP Plan
A date for the public release of the plan hasn't been pinned down yet by both Mnuchin and White House chief of staff Mark Meadows. But a GOP aid told CNN that the proposal will likely be released on Monday.
Sources said the main cause of delay was the differences over the extension of federal unemployment enhancement. Meadows knows that poring over the legislative text is a time-consuming process.
McConnell said the administration asked for more time to review the plan and it should be out "early next week." He added that key GOP senators will introduce parts of the bill on Monday.
On Thursday, some GOP issues were resolved like the push for a payroll tax cut and the resolve that money for schools have to be solely for reopening.
Mnuchin said President Donald Trump "wants to get money into people's pockets now, because we need to reopen the economy." Trump had pushed for a payroll tax cut in the past months even though his own party gave little support.
Mnuchin said discussions between McConnell and the White House had been "very productive."
Meadows is aware that negotiators face a time crunch, given the coming weekend and the expected funeral for late Rep. John Lewis next week. "We're working expeditiously," he said.
"We'll let you know," McConnell added. Other GOP senators also sounded unsure over the timeline of the bill's release and said the bill is still a "work in progress."
Want to read more on the second stimulus check? Read on!
- New Relief Bill May Include Jobs, Stipends, and Educational Grants
- Second Stimulus Check: What Should Americans Expect Following Trump Negotiations?
- Unemployment Benefits May Be Cut as High as $400, GOP Leaders Said