The second stimulus package is moving through the ranks as Republicans finalized a $1 trillion relief bill with details to come out on Monday. Appearing on State of the Union in an interview with CNN anchor Jake Tapper, White House economic advisor, Larry Kudlow, revealed that a major component to the next round of assistance is extending federal eviction moratorium.
The Trump administration wants to lengthen the moratorium, which expired on Friday. This means that federally backed mortgages supported renters who were unable to meet their monthly costs. The support was included in the first stimulus package, the CARES Acts. In response to Tapper pressing him about people fearing for their homes, Kudlow said “we will lengthen the eviction.” He did not expand on that, so it’s unknown how long it would cover, but it could follow the details of the first round approved in May. A study by the U.S. Census Bureau discovered that 24 million Americans said they have “little to no chance” of paying their next month’s rent amid the pandemic,
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Kudlow discussed other aspects of the package, including the inclusion of another round of checks. The adviser said $1,200 checks can be expected in the new package, saying that “the check is there,” while sharing that a reemployment and retention bonus, along with tax breaks for small businesses will also be found in the new plan. Kudlow spoke very highly of what legislators were able to put together, calling it a “very well rounded package” and “well targeted.” Ever since the first round of financial assistance went out in May, many people have been clamoring for another batch of support.
The need for a second federal stimulus package comes as the country continues to be hit hard with the coronavirus. The country recently saw Florida, which has become the newest epicenter, surpass New York as the hardest-hit area in the states. Areas like Texas, South Carolina and Arizona have also seen major spikes over the past few weeks whereas areas in the northeast that were once devastated by COVID-19 have slowly eased into reopening its economy. The threat of the coronavirus even forced President Donald Trump’s hands as he had to announce the cancelation of the Republican National Convention which was to be held in Jacksonville. He said that the time was not right considering the impact Florida is seeing right now.
