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Trump supports 2nd coronavirus stimulus due to hit bank accounts July 20th

The second stimulus is a very big topic at the White house. Americans are patiently waiting for a second check to help them get through this pandemic. With the unemployment bonus coming to an end at the end of July, many of us will need another stimulus check to pay rent, bills, grocery and other essentials of life. Republicans have advocated a “wait-and-see” approach to continued relief, after better-than-expected job reports in May and June. But Democratic lawmakers argue the jobs reports show relief efforts are working, so Congress shouldn’t slow down.

President Donald Trump expressed support for more stimulus and potentially a second round of checks on Wednesday. The initial act also added an extra $600-a-week in unemployment benefits that is set to expire at the end of July. At the Thursday morning briefing, Trump said his administration has started working on the next phase of stimulus. The details of the White House stance remain unclear.

Mnuchin added that a second round of stimulus payments would be sent to “legal Americans” only. “Our position is that legal Americans — American citizens — should get the payments. That’s our focus,” Mnuchin said. “If people are here illegally, they’re not going to get economic payments”

US President Donald Trump, with Director of the National Economic Council Larry Kudlow (L) and US Secretary of the Treasury Steven Mnuchin, speaks to the press in the Brady Briefing Room of the White House in Washington, DC, on July 2, 2020. (Photo by JIM WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)

The next round of coronavirus relief — known as Phase 4 — will be much more targeted.

“There are going to be a number of businesses that are particularly hard hit and we’ll be looking to give those businesses additional money,” said Mnuchin. “There is no question this is working.”

Mnuchin also said it’s “too early to tell” how big the next stimulus package will need to be.

“That’s the reason that we’re waiting,” he said. “The president is committed to do what we need to do in the next bill to protect kids, protect jobs and protect liability.”

“Today’s jobs report may just be a slight peak in a much larger valley, and unless President Trump demonstrates real leadership in fighting the health crisis and Senate Republicans get off their hands and finally work with Democrats to quickly provide additional federal fiscal relief, the pain America is experiencing will only worsen,” said Senate Democratic Leader Chuck Schumer.

Congress has already authorized about $3 trillion for fighting the virus, but experts say Washington will have to do more to support a recovery.

On March 18, the Families First Coronavirus Response Act, or “Phase 2,” became law. “The three most important parts of this bill are testing, testing, testing,” said House Speaker Nancy Pelosi (D-CA) at the time. The bill included money for coronavirus testing, paid leave, food aid and funding for states.

President Trump signed the Families First Coronavirus Response Act on March 18th.

On March 27 Trump signed the massive Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The legislation carried a roughly $2 trillion price tag — the most expensive stimulus package to ever become law.

The CARES Act created the Paycheck Protection Program and other loan programs for businesses, directed funding to states, localities and hospitals, added an extra $600 a week to unemployment benefits and sent stimulus checks to most Americans. “The $1,200, that was good, but it was gone pretty much immediately,” said Teresa Ibarra, a furloughed worker in Tennessee.

The roughly $2T CARES Act included enhanced unemployment benefits, stimulus checks, funding for states, established the Paycheck Protection Program and more.

Continue visiting earkandyradio.com for the most current stimulus updates.

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