So much for Senate leader McConnell trying to talk down another stimulus bill…
The Democratic House has ALREADY approved one….
Fed Chair Powell is asking for more stimulus money to be given out…
One would assume the House and Senate will use the House bill to make the next bill for Trump to sign…
Maybe ole Mitch didn’t read his mail?
Treasury Secretary Steven Mnuchin on Thursday said there is a “strong likelihood” that another coronavirus relief bill will be needed as more states start to reopen and the economy struggles to stabilize.
“We’re going to carefully review the next few weeks,” Mnuchin said in an interview with The Hill’s Bob Cusack during a virtual event. “I think there is a strong likelihood we will need another bill, but we just have $3 trillion we’re pumping into the economy.”
“We’re going to step back for a few weeks and think very clearly how we need to spend more money and if we need to do that,” he added.
Mnuchin’s comments — which came during the The Hill’s Advancing America’s Economy Summit, sponsored by Wells Fargo and Siemens — follow those of White House economic adviser Kevin Hassett, who said earlier this week that he thinks another coronavirus bill might not be necessary.
On Capitol Hill, Republicans and Democrats are divided over how to tackle additional legislation….
House Democrats last week passed a $3 trillion relief package, but Senate Republicans have said that bill is dead on arrival in their chamber. Some GOP senators have indicated they want to move quickly on another measure, but Senate Majority Leader Mitch McConnell (R-Ky.) has signaled a desire to move more slowly in order to first evaluate what is and isn’t working from previous relief bills that were signed into law.
One point of division that has emerged is unemployment insurance.
McConnell told House Republicans on Wednesday that the $600-per-week boost to unemployment insurance that was part of legislation passed in March would not be included in the next bill.
Republicans have criticized the boost, arguing that it is a disincentive for people to return to working. But Democrats argue that the enhanced unemployment benefits should be extended because they are critical to helping the millions of people who have lost their jobs in the past
Mnuchin said that the Trump administration is not currently considering providing Americans with upfront money in exchange for curbs to their Social Security benefits, as had been floated by the State Department.
“It’s not something that we’re considering at this point,” he said. Mnuchin added that “Social Security is very important to the president, and we’ll look at other options if people need money.”…
Told ya so….
Senate Majority Leader Mitch McConnell (R-KY) said that there would “likely” be a fifth coronavirus relief bill “in the next month or so,” The Hill reports.
Said McConnell: “Many of you are asking, what next? I think there’s likely to be another bill. It will not be the $3 trillion bill the House passed the other day. But there’s still a likelihood that more will be needed.”