Larry Kudlow, director of the U.S. National Economic Council, speaks to members of the media at the White House in Washington, DC, USA, on Tuesday, April 7, 2020.
Jim Lo Scalzo | Bloomberg | fake pictures
White House economic adviser Larry Kudlow said Sunday that the next round of coronavirus relief will include stimulus payments of $ 1,200 to Americans and said the Trump administration will lengthen the federal eviction moratorium.
“A $ 1,200 check is coming, which will be part of the new package,” Kudlow said in an interview on CNN’s “State of the Union.”
The Senate Republicans’ upcoming coronavirus bill is intended to provide a temporary and reduced extension of unemployment benefits, another round of stimulus controls, liability protection for businesses, and funds to help schools restart. The legislation will also include $ 16 billion in new testing funds and tax incentives to encourage companies to hire employees.
“The check is there, the reemployment bonus is there. The retention bonus is there,” Kudlow said of the upcoming relief legislation. “There will be breaks, tax credits for small businesses and restaurants.”
“It is a very complete package,” added Kudlow. “It is a very well-run package.”
Kudlow also said the administration plans to extend the federal eviction moratorium, which has protected millions of tenants in the past four months from being evicted.
Cities across the United States have been preparing for a wave of evictions when the moratorium expired on Friday. The moratorium covered tenants in buildings with government-backed mortgages. Lawmakers and housing advocates have called for a nationwide eviction ban along with rent cancellations and other forms of housing assistance.
The $ 600 weekly supplement to state unemployment checks that was imposed in March ended Saturday. Democrats want to extend aid, while Republicans will cut the subsidy, arguing that extended aid is a disincentive for unemployed Americans to find work.
Kudlow said the administration’s plan to limit unemployment benefits to about 70% salary replacement is “quite generous by any standard.” Last week, Republicans were considering extending the insurance benefit to a reduced level of $ 400 per month, or $ 100 per week, for the rest of the year.
As negotiations continue, it remains unclear when the potentially reduced unemployment supplement would go into effect. The unemployment rate in the US has risen above 10% due to the pandemic, with nearly 32 million Americans now receiving unemployment benefits, according to the Department of Labor.
Even as cases in the south and west increase, Kudlow remained optimistic about the US economic recovery: “The odds favor a large increase in job creation and a large reduction in unemployment,” he said.
The United States has reported more than 4 million coronavirus cases and at least 146,484 deaths, according to data from Johns Hopkins University.
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