President Donald Trump supports a stimulus proposal from Senate Majority Leader Mitch McConnell (R-Ky.) to “benefit low-income Americas,” said White House Counselor Kellyanne Conway on Friday.
The Trump administration is “poised to sign a phase four package into law if it’s reasonable,” Conway added in a news conference.
McConnell suggested to reporters earlier this month that “I think the people who have been hit the hardest are people who make about $40,000 a year or less. Many of them work in the hospitality industry. The hospitality industry, as all of you know, just got rim-racked—hotels, restaurants—and so that could well be a part of it.” Some have speculated that the $40,000 could be a cutoff for future stimulus payments, although it’s not clear.
The Senate is scheduled to return to Washington on Monday, July 20, and the next Congress recess starts on Aug. 10, meaning that lawmakers will most likely intensively debate on the details of the next stimulus package.
Conway added that the White House hopes to have bipartisan support on the next package to “benefit low-income Americans” and provide relief.
White House officials have been discussing how to come up with another round of economic impact payments that would be deposited in Americans’ bank accounts or mailed to them via check. They are also weighing in on extending the additional $600 per week in unemployment insurance.
Democrats have supported the extra unemployment payments, while many top Republicans are against it.
Treasury Secretary Steven Mnuchin said in a Congressional hearing on Friday that “we are monitoring economic conditions closely.”
“Certain industries, such as construction, are recovering quickly, while others, such as retail and travel, are facing longer-term impacts and will require additional relief,” the secretary said.
Mnuchin also noted that CCP (Chinese Communist Party) virus cases in the United States are on the rise, which might limit the United States’ economic recovery. But in June, the Labor Department broke a record, saying that nearly 5 million jobs were added for the month, meaning that 7.5 million jobs were added in the past two months.
“Recent improvements in unemployment insurance claims suggest that the job market has continued to strengthen in July,” Mnuchin said. He added: “We are also sensitive to the fact that certain areas of the country are experiencing increased numbers of cases of the virus.”
House Speaker Nancy Pelosi (D-Calif.) told reporters that she believes that Republicans will align with the Democrats’ proposal.
“I have no doubt they’ll come around,” Pelosi told Bloomberg News. “They know there’s going to be a bill. … First it was going to be no bill. And then it was going to be some little bill. Now it’s $1.3 [trillion]. That’s not enough,” she told reporters in Washington.