A Glimmer Of Hope Emerges For A Second Stimulus Check

Up till right this moment, calls for an additional spherical of direct stimulus funds to Americans solely got here from Democrats. With a Republican majority within the Senate and a Republican President, these proposals appeared to fall on deaf ears. After the passage of the final spherical of funding, Senate Majority Leader, Mitch McConnell, signaled his disdain for extra aid, repeatedly saying he desires to push the “pause button” on any extra massive spending payments for now.

Today, a glimmer of hope emerged for the thousands and thousands of Americans who had already exhausted their $1,200 or $2,400 checks. White House financial advisor, Kevin Hassett, advised reporters that the Trump Administration is “studying very carefully” whether or not to supply one other spherical of financial influence funds – extra generally referred to as “stimulus checks” to Americans. This is the primary time a Republican has publicly hinted at further stimulus funds since the latest laws was handed.

“I think that that’s something we’re studying very carefully that I know that people in the House are as well,” Hassett remarked. “I expect that it’s very likely there will be a Phase 4 deal, and we’re going to be speaking with the president throughout the week about what he thinks should be in there.” Given his present position, Hassett has inside entry to the administration’s pondering. He disclosed that McConnell and House Speaker Nancy Pelosi had been together with further stimulus funds to Americans.

Hassett’s feedback got here in response to a query about whether or not he believed the one-time funds could be sufficient to assist these impacted by the COVID-19 pandemic. With almost half of Americans residing paycheck to paycheck and almost 40% of Americans unable afford an surprising $400 emergency, Hassett’s response appears acceptable. A current Bankrate survey reported that 1 in three Americans doesn’t assume the preliminary stimulus fee would maintain them for even a single month. Other surveys assist this with one discovering that 84% need one other wave of checks and one other one discovering that 64% of Americans believed the primary stimulus test would cowl their bills for lower than three months.

While there’s nonetheless a protracted method to go earlier than further stimulus funds develop into actuality, a remark from Hassett might function a sign that Republicans are extra open to together with them within the subsequent spherical of coronavirus aid laws than had beforehand been recognized. For the 26 million Americans who filed for unemployment within the final 5 weeks and for a lot of others, even a glimmer of hope is a welcome signal as of late.

Further Coronavirus-Related Reading:

Schumer Tries To Tame Trump’s Ego, Prevent President From Branding Additional Stimulus Checks

These 10 States Are Suspending Payments For Millions Of Private Student Loan Borrowers

Elizabeth Warren And Sherrod Brown Unveil Sweeping 6-Prong Consumer Protection Proposal

Repeal The $1.6 Million Stimulus ‘Check’ Loophole For Rich Americans; New Proposal Unveiled

How Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7 Million

Kamala Harris, Bernie Sanders To Mnuchin: Exempt Stimulus Checks From Private Debt Collection

Small Business, Big Heart: How One Restaurateur Is Taking On Coronavirus

Spread Financial Empathy Instead Of Coronavirus

Source link Forbes.com

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