President Trump on Monday 22 June, 2020, gave a green light for a second round of stimulus package as coronavirus continues to clip the country’s economy.
Mr. Trump disclosed this during an interview with Scripps local TV news when asked if he was going to give another round of the stimulus package to the Americans.
Responding to the question, Mr. Trump said, “We will be doing another stimulus package. It’ll be very good. It will be very generous.”
A question about what would be the amount for the second stimulus package did not get a direct answer.
Instead the president inferred that the information would be made known in time.
“You’ll find out about it. You’ll find out,” the president said.
Speaking about the package, A White House official while speaking to NBC News said that the economic team was studying what a new round of direct payment would be like and that decision is yet to be made on that.
Meanwhile, due to the hit of the pandemic, $1,200 per person was approved by the Congress in March as a direct payment for individuals to help soften the effective of the pandemic.
According to the IRS, about 159 million has been processed for stimulus package.
In another round of direct payment, a $3 trillion HEROES Act was passed by the Democratic-led House in May, but was disaproved by the Republican Senate majority for a reason that they wanted to see if there would be need for more aid.
However, the disapproval of the republican-controlled Senate may lack effect as the President Trump has threatened that the bill would be vetoed on the ground of progressive measures decried as ideological wish list by the White House.
Judd Deere, White House spokesman while responding via an email as to what the next coronavirus stimulus package would include he said, “Any phase four economic package must prioritize pro-growth economic measures that incentivize employers and our great American workforce to return to the labor market.”
In contrast, some of Trump’s economic advisers have called for tax cuts and deregulatory measures instead of spending much more on stimulus package. They believe that would help fast track rate of recovery from the economic hiatus given the recent increase in the retail sales and Job reports in May.
In this regards, the president said early June that he would prefer a payroll tax cut and that he would focus much more on restaurants and some entertainment industry saying it “Will be an incentive, whether it’s deductions or whatever.”
