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US virus aid package soon, USD 1,200 cheques by August: Mnuchin
Treasury Secretary Steven Mnuchin said that Republicans were set to roll out the next COVID-19 aid package on Monday and assured there was backing from the White House after he and President Donald Trump’s top aide met to salvage the dollar 1 trillion proposal that had floundered just days before.
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Mnuchin told reporters at the Capitol that extending an expiring unemployment benefit but reducing it substantially was a top priority for Trump. The secretary called the 600 weekly aid ridiculous and a disincentive for people to go back to work. He also promised a fresh round of dollar 1,200 stimulus cheques would be coming in August. Mnuchin’s optimistic assessment came before Democrats weighed in publicly on the updated proposal, which remained only a starting point in negotiations with House and Senate leaders in the other party. He said he recently called House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer ahead of shuttle negotiations next week on the broader deal. As Republicans struggled, the White House team downplayed the differences with the GOP senators as overblown and said Trump was focused on providing relief.
 Mnuchin said the dollar 1,200 direct payments would be based on the same formula from the earlier aid bill. Individuals making dollar 75,000 or less, for example, received the full amount and those making more than dollar 75,000 received less than dollar 1,200 depending on their income. Individuals earning above dollar 100,000 did not qualify for the payment. We’ll get the majority of them out in August and those will help people, Mnuchin said.Â
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