Second Stimulus Check - Great News From The Treasury Today

Next stimulus check. PPP loan. $600 Unemployment. Treasury secretary Steven Mnuchin spoke at a hearing today about the Trump administration’s top priorities for the next stimulus relief bill.

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Mnuchin’s overarching point today was that the next bill will be largely focused on getting people back to work.

The sticking point that we’ve been having with the $600 additional unemployment is many workers face lower income if they leave unemployment and go back to work. This is a major issue with many Republican members.

Mnuchin seems to be in favor of a return to work bonus that would incentivise workers to return to work. The most popular return to work proposal right now is a plan that would give $450 a week to workers who are currently on unemployment to return to work. This would be in addition to the worker’s normal wages.

A $450 bonus would save the government (and effectively all of us) 10s of billions of dollars by the end of the year. The $450 number was chosen because it would ensure the average worker making minimum wage would earn more employed than they would on unemployment.

Mnuchin also expressed that he is against the idea to reduce capital gains taxes on businesses. He felt this reduction doesn't seem necessary in light of the extraordinary measures taken by the Federal Reserve to bolster the financial system and markets.

Mnuchin also talked about more PPP funding to help increase employment however he believes that another round would have to be very narrowly targeted to the businesses that are hit the hardest.
Will there be another round of stimulus checks?

Secretary Mnuchin stated he and the Trump administration are going to seriously look at whether we want to do more direct money to stimulate the economy.

This statement gave me a ton of hope for a second round of checks. We already know that Trump has mentioned several times that he likes the idea of another stimulus payment and we now know his admin are seriously considering it.

Sources: https://thehill.com/policy/finance/502079-mnuchin-indicates-support-for-new-ppp-loans-in-next-covid-19-relief-bill

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Видео Second Stimulus Check - Great News From The Treasury Today канала Max Maher