This could be the week that a second stimulus package gets cleared by Congress.
Leaders were expected to meet with President Donald Trump on Monday to discuss the would be components of another Coronavirus Pandemic stimulus package. It would likely be something similar to the CARES Act, which was passed at the start of the COVID-19 shutdown.
Senate Majority Leader Mitch McConnell was ready to roll out a $1 trillion package this week. However, The White House pushed back on certain components. It could mean a complicated passage process.
President Trump spent time in recent days saying that the Coronavirus would ‘disappear’. However, caseload continues to grow in states across the U.S.
The second stimulus package is viewed as a necessity by some lawmakers, who say that due to a lack of federal planning or action – COVID-19 has been able to run rampant.
Businesses are shutting down in some states, but here in New York – most remain open. McConnell and House GOP leader Kevin McCarthy were going to meet with President Trump and Treasury Secretary Steven Mnuchin to go through the details.
The President has said that he would like to see a payroll tax break for employers. It’s unclear if that will be part of the next federal package.
It’s also unclear how much individuals would receive, or who would receive funds. In the first wave of stimulus – most Americans received $1,200. That could happen again, but there would likely be a lower income restriction on it.
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