Rumor has it, the next stimulus direct deposit date is July 20th. Check your accounts!
President Donald Trump indicated Monday he’s open to a second round of stimulus payments as the U.S. economy continues to reel from the coronavirus pandemic. Asked in an interview with TV news whether he’s going to give Americans another round of checks, Trump responded: “Yeah, we are. We are.” “We will be doing another stimulus package. It’ll be very good. It’ll be very generous,” Trump said. When asked how much money it will be, he said: “You’ll find out about it. You’ll find out.” The president said in an interview the amount would be “generous” but didn’t put a dollar figure on it.
A White House official told NBC News a new round of direct payments is “part of something the economic team is studying,” but added, “No decisions made yet.” Last month, the Democratic-led House passed the $3 trillion HEROES Act that included another round of direct payments, but the Republican-controlled Senate has resisted, with leaders saying they want to wait to see what, if any, additional aid is needed. Trump has threatened to veto that bill over progressive measures his White House has decried as an “ideological wish list.”
President Trump commits to 2nd stimulus. He says details would be announced in the coming weeks.
Trump also said said he favors a payroll tax cut and will be “doing things for restaurants and various pieces of the entertainment industry, which will be an incentive, whether it’s deductions or whatever.”
Some Trump economic advisers have pushed the president to reject any additional spending and focus on tax cuts and deregulatory measures they argue will aid the recovery after a better-than-expected May jobs report and a surge in retail sales. Any phase four economic package must prioritize pro-growth economic measures that incentivize employers and our great American workforce to return to the labor market.”
In the meantime, we shouldn’t be doing any more spending. Its time to save all we have, save all we can!