Kudlow on Next Stimulus Bill: 'There's a $1.2K Check Coming'

Senate GOPers set to reveal $1T coronavirus relief package on Monday
By Jenn Gidman,  Newser Staff
Posted Jul 27, 2020 6:33 AM CDT
Kudlow on Next Stimulus Bill: 'There's a $1,200 Check Coming'
White House chief economic adviser Larry Kudlow, center, is seen at the White House on May 15, 2020, in Washington.   (AP Photo/Alex Brandon)

Senate Republicans are set to release a $1 trillion coronavirus relief package on Monday, and with that deal, Americans can expect checks similar to the ones sent out in the last round. "There's a $1,200 check coming," White House chief economic adviser Larry Kudlow said in a Sunday appearance on CNN's State of the Union, per CNBC, adding, "It's a very well-rounded package." Also included in this bill, which comes after a $3 trillion package proposed in May by House Democrats was rejected by the GOP-controlled Senate: an extension on the federal eviction moratorium, an extension on unemployment benefits, funding for school reopenings, and liability protections for businesses. There are still bones of contention, however.

For example, although Democrats have sought to keep the $600-per-week addition to unemployment checks going, Republicans say it's too much and keeps people at home instead of working; their proposal calls for a 70% replacement of lost wages instead. Treasury Secretary Steven Mnuchin says that would cut the extra unemployment check down to about $200 per week, Vox notes. As for the eviction moratorium, critics point out it applies only to renters in buildings with government-backed mortgages, per USA Today, which cites Aspen Institute stats showing 20% of Americans living in rental households face eviction by the end of September. Housing advocates say temporary rent and mortgage cancellations are also necessary to help people stay afloat during the pandemic. (More economic stimulus package stories.)

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