Treasury Secretary Steve Mnuchin says the proposed coronavirus legislation to be released Monday will include direct stimulus payments to people.
“We have direct payments, and like you do now, direct payments are a much quicker way to give everyone a tax cut,” Mnuchin said in a Fox News interview on Sunday.
In March, Congress approved an initial round of $ 1,200 stimulus checks for people earning less than $ 75,000. There was a gradual elimination of higher income. People earning $ 99,000 received nothing.
Details of the Republican Party proposal, including a possible income limit, were not immediately clear.
Senate Majority Leader Mitch McConnell (R-Ky.) Announced Thursday the outline of a $ 1 trillion Republican coronavirus bill negotiated with Mnuchin as the chief negotiator for the Trump administration. It is unclear if direct payments will be on the main invoice.
“It won’t be on the base bill,” Mnuchin told CNBC on Thursday.
Some Republican senators, including Kentucky Senator Rand Paul, oppose another round of stimulus checks, though Democrats strongly support them.
President Trump also supports another round of direct payments to offset the economic damage of the pandemic.
On Thursday, Mnuchin said, “the president’s preference is to make sure we send direct payments quickly so that in August people will get more money.”
There are likely to be protected negotiations with House Democrats after Republican leaders in the Senate revealed their legislation on Monday. In May, Democrats in the House of Representatives passed a $ 3 billion bill that included direct payments along with state bailouts and rental and mortgage assistance.
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