White House likely to back second round of stimulus checks, according to report

Economic stimulus checks are prepared for printing at the Philadelphia Financial Center May 8, 2008 in Philadelphia, Pennsylvania.

Jeff Fusco/Stringer” data-reactid=”17″>Jeff Fusco/Stringer

  • The White House would likely back another round of coronavirus stimulus checks, two senior administrative told CNBC on Thursday.
  • In a statement to CNBC, the White House did not immediately confirm the report.
  • “As President Trump has said, we are going to ensure that we take care of all Americans so that we emerge from this challenge healthy, stronger, and with economic prosperity, which is why the White House is focused on pro-growth, middle class tax and regulatory relief.”
  • This reported approval comes ahead of a House vote on a follow-up coronavirus bill, the HEROES Act, which includes a second round of stimulus checks for US residents.
  • Senate Republicans were quick to express disapproval of the HEROES Act, with Senate Majority Leader Mitch McConnell calling it a “big laundry list of pet priorities” and that it has “no chance of becoming law.”
  • Visit Business Insider’s homepage for more stories.

CNBC reported Thursday, citing two senior administration officials.” data-reactid=”25″>The White House would likely support a second round of coronavirus stimulus checks, contrary to Senate Republican disapproval, CNBC reported Thursday, citing two senior administration officials.

In a statement to CNBC, the White House did not immediately confirm the report, but said, “As President Trump has said, we are going to ensure that we take care of all Americans so that we emerge from this challenge healthy, stronger, and with economic prosperity, which is why the White House is focused on pro-growth, middle class tax and regulatory relief.”

Americans received their first stimulus check — a maximum of $1,200 for single taxpayers, $2,400 for married couples, and an extra $500 for dependents up to age 16 — under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was approved with bipartisan support in late March.

CNN reported.” data-reactid=”28″>With the coronavirus pandemic taking a devastating effect on American jobs and the US economy, millions are filing for unemployment benefits. On Thursday, the Department of Labor announced that “another three million people filed initial unemployment claims last week on a seasonally adjusted basis,” CNN reported.

$3 trillion stimulus bill to support Americans and the US economy amid the coronavirus pandemic.” data-reactid=”29″>The news comes ahead of a House vote on Friday to approve a $3 trillion stimulus bill to support Americans and the US economy amid the coronavirus pandemic.

$600 in unemployment benefits.” data-reactid=”30″>House Democrats unveiled the follow-up bill to the first CARES Act — titled the Health and Economic Recovery Omnibus Emergency Solutions Act (HEROES) Act — earlier this week. Apart from another round of stimulus checks for US residents, the bill also proposes a variety of initiatives, including a $25,000 pay boost for essential workers and an extra $600 in unemployment benefits.

However, Senate Republicans have expressed disapproval for the bill. At the bill’s release on Thursday, Senate Majority Leader Mitch McConnell said it was a “big laundry list of pet priorities” and that it has “no chance of becoming law.”

Business Insider” data-reactid=”32″>Read the original article on Business Insider

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