Members of Congress have been actively pursuing proposals for another round of stimulus checks to help reinvigorate the economy and offer support for those across the country suffering due to the coronavirus pandemic. There are at least four different proposals in the works, with many of them upping the ante to $2,000 checks per installment.
While the idea of more Americans receiving financial assistance sounds like a no-brainer, there’s another side of the discussion that has to do with the impact it will have on the government’s spending. This is why some officials in the White House are a little worried about the prospect. A story in The Washington Post reveals that six administration officials and four external advisers are growing worrisome about the debt that is building up, and adding another stimulus package would only worsen the situation. With unemployment piling up, President Donald Trump doesn’t appear to be in a hurry to sign off on another package after the first one equated to $2 trillion.
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Appearing on This Week with George Stephanopoulos, National Economic Council director Larry Kudlow said, “I think that many people would like to just pause for a moment and take a look at the economic impact of this massive assistance program.” Kudlow also shared with reporters that they’re taking a wait-and-see approach when it comes to issuing another recovery program. “We just had another big infusion. … Let’s see what happens,” Kudlow said. “As we move into the reopening phase this month, maybe spillover to June, let’s have a look at it before we decide who, what, where, when.”
As for what another stimulus package could look like, a proposal put together by senators Kamala Harris, Bernie Sanders and Ed Markey would see a $2,000 check go out each month the pandemic lasts. It would also continue for three months after the pandemic is officially determined to be over per a ruling by the Secretary of Health and Human Services. Harris has actively been advocating for more help to come into the homes of Americans. “The CARES Act gave Americans an important one-time payment, but it’s clear that wasn’t nearly enough to meet the needs of this historic crisis,” Harris said in a statement. “The Monthly Economic Crisis Support Act will ensure families have the resources they need to make ends meet. I am eager to continue working with Senators Sanders and Markey as we push to pass this bill immediately.”
