Discussion over the new coronavirus stimulus package is underway in Washington, and Senate Majority Leader Mitch McConnell (R-KY) says that it will include stimulus checks. According to The Hill, McConnell spoke from the Senate floor on Tuesday, and stated, "Speaking of building on what worked in the CARES Act, we want another round of direct payments." He added that the "direct payments...help American families" and "keep driving our national comeback."
McConnell also stated that, in addition to more stimulus money for citizens, he and his fellow Republican leaders want more funding for the Paycheck Protection Program. This program provides loans to businesses that have less than 500 employees. Notably, there is already bipartisan support for the measure, as some Democrat leaders would also like this to continue. However, there are some who are coming to the negotiations with hopes to tighten up on the qualifications to receive a loan. "With a majority of businesses expected to exhaust their initial paycheck protection funding this summer, we'll also be proposing a targeted second round of PPP, with a special eye toward hard-hit businesses," McConnell stated.
In May, payments from the CARES act — the first coronavirus stimulus relief bill — began going out to citizens from the IRS. Those payments were in the amount of $1,200 for individual citizens, with married couples received $2,400 payments. Parents were issued and extra $500 for each of their children, up to a total of three. Since then, many have been wondering if another stimulus bill would happen, as the pandemic is still ongoing. Due to a new spike in cases around the nation, many businesses have had to close all over again, in order to try and limit the spread of the virus.
While there are currently no official details on the next plan, a big part of it is likely to be extended unemployment benefits, as the ones provided by the CARES act are set to expire on July 31. "Enhanced unemployment is intended for people who don't have jobs, particularly in industries that are harder to rebound," Treasury Secretary Steve Mnuchin has stated. "We'll figure out an extension that works for companies and works for those people who will still be unemployed." It is reported that around 17 million people are currently unemployed.