A second federal stimulus package appears to be on the way with White House Adviser Larry Kudlow explaining the logistics of the next plan, including another round of $1,200 checks. Kudlow also spoke on behalf of the economy, claiming that despite the coronavirus and the rise in cases being seen in states like Floirda and California, the economy is doing very well.
Kudlow said that we're currently in a "housing boom right now" as well as a boom in retail sales and car sales. He was asked about the subject by CNN anchor Jake Tapper, who wanted to hear Kudlow's thoughts on the state of the economy. Kudlow said the economy is "not going south, I think it's going north." He backed up his claim by saying new business requests are on the rise and that jobs are being filled despite what the unemployment numbers may suggest.
"You're in a housing boom right now. You're in a retail sales boom right now. You're in an auto, car boom right now" -- with unemployment over 11 percent, Larry Kudlow wants you to believe the economy is great pic.twitter.com/62Dh6Lti5t— Aaron Rupar (@atrupar) July 26, 2020
Along with sharing his thoughts on the outlook of the country, Kudlow provided some insight into what the next round of financial help for the states would look like. In regards to the $1,200 checks, Kudlow said they're "going to be a part of the new package." More details will be revealed on Monday after Republicans finalized a new $1 trillion relief bill. Also included, Kudlow says, is extensions on unemployment benefits, liability protection for businesses as well as aid to help schools in their efforts to open back up. Kudlow called it a "very well rounded package."
The need for a second stimulus package comes as the country sees some of its largest increases in daily positive COVID-19 cases. The epicenter has shifted from New York down to Florida, where the Sunshine State surpassed the Big Apple for number of total cases. The state added another 9,300 on Sunday after more than 12,000 the day before. As a whole, the country topped 1,000 deaths in a day for the fourth consecutive day on Saturday. With numbers on the rise in Florida, President Donald Trump ended up canceling the Republican Convention in Jacksonville, saying "it's not the right time."