Legislators still trying to pass a new relief package before the end of the year. President Trump’s administration on Tuesday proposed a financial aid package that would offer much smaller federal unemployment benefits than a bipartisan group of lawmakers had proposed, but would include a new stimulus check.
Treasury Secretary Steven Mnuchin proposed that lawmakers approve another stimulus check worth $600 per person, as well as $600 for each child, but without giving extra money to those on unemployment benefits.
It is worth remembering that last week a bipartisan group introduced a bill where Congress would approve about $180 billion in new federal unemployment benefits for tens of millions of unemployed Americans.
That would be enough to give an extra $300 per week in unemployment benefits, although this project did not contemplate another round of stimulus checks.
Lawmakers will still discuss this week the approval of more economic support for individuals and businesses to survive the coronavirus crisis.
Stimulus checks of $600, the differences between the new White House proposal and the previous
New Trump Administration Offer Makes No Mention of Additional Dependent Funds. The offer is on the table: $600 to individuals per stimulus check and $1,200 to couples.
The new White House proposal, valued at $916 billion and announced yesterday, provides for half of the minimum amount included in other stimulus check drafts. The plan does not mention additional funds for dependents.
Treasury Department Secretary Steven Mnuchin made the offer yesterday afternoon to House Majority Speaker Nancy Pelosi.
Mnuchin approached Pelosi after a call with Republican congressmen, including Senate Majority Leader Mitch McConnell.
Although details available on the package are minimal, House Republican Vice President Kevin McCarthy mentioned the figures above.
In addition, it was revealed that the new proposal promoted by the White House rules out additional aid for unemployment, an issue of vital importance for Americans since the funds extended by the CARES Act expire on December 26.
Half of what the CARES Act provided
Under the CARES Act, passed last March in Congress, some 160 million Americans received stimulus payments through last month.
The amount distributed to individuals is double that provided for in the new White House plan: specifically, $1,200 for individuals and up to $2,400 for couples.
As for credits for dependents, the payment of $500 for each up to a maximum of three was established.
Prior to this announcement by the Donald Trump Administration yesterday, the President had announced a “tremendous” post-election package.
However, what Mnuchin offered is no longer tremendous but rather conservative.
What about the extra 1,000 for Trump’s dependents?
When Mnuchin was still in talks with Pelosi prior to November 3, it became public that Trump supported a $1.8 billion stimulus bill that included minimum checks of $1,200 and up to $1,000 per dependent. The $1,000 figure was double what was approved under the CARES Act. Most of the pieces of legislation introduced by Republicans after the Act provided for only $500 per dependent.
Bipartisan draft stimulus package still in play
At the moment, a majority of Democrats and Republicans support the bipartisan stimulus bill introduced in the Senate last week that does not include a second round of direct payments.
Pelosi said she supported that draft as a starting point for passing a new stimulus package this week before the Dec. 11 deadline to make way for a new spending bill that would prevent a government shutdown. McConnell has expressed reservations about the proposal, which is supported by members of both delegations and involves an outlay of $908 billion.