Stimulus checks: Mnuchin pitches GOP on $1 trillion response package that involves paying Americans directly
CNNWashington CNN — Treasury Secretary Steven Mnuchin on Tuesday pitched Republican senators on a massive economic response package amid the coronavirus crisis with a price tag that is now at a staggeringly high $1 trillion, which would include a first wave of checks to Americans that would cost $250 billion, a source familiar tells CNN. Senate Majority Leader Mitch McConnell on Tuesday vowed to keep the Senate in session to approve an earlier relief measure passed by the House and then tackle the next economic stimulus measure, which he described as “phase three.” Asked about concern among Republican members over the House bill, the Kentucky Republican said, “A number of my members think there are considerable shortcomings in the House bill. Echoing what the administration is now pushing for, McConnell said “we are examining policy tools to put money directly and quickly into the hands of American families.” Timeline for a third coronavirus relief measure in the Senate McConnell has tasked groups of senators to come together on an economic stimulus plan in line with what Mnuchin is proposing, according to GOP sources. “We’re trying to reach an agreement among ourselves as to what Senate Republicans and the administration favor doing next.” Senate Republicans will work to reach an agreement with the administration over that next bill, McConnell said at his news conference, and then will “sit down with our Democratic counterparts and see what we can agree to.” Cap under consideration for stimulus checks Sources told CNN that the Trump administration is looking to set a cap on individuals eligible for the cash benefit that could go directly to Americans. “We have a lot more work to do,” he said, “and we have to do it quickly.” He described the actions taken by the administration and Congress as “business interruption insurance.” White House signals sending direct payments to Americans CNN asked President Donald Trump and Mnuchin about the logistics of an economic stimulus idea that could give $1,000 checks to Americans, which is gaining some bipartisan support.
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