Senate Republicans Prepare New Coronavirus Aid Package

Democrats move toward $1.9 trillion coronavirus relief bill without Republicans

The initiative provides for another round of direct payments to the population

Senate Republicans are planning to offer another round of direct payments to Americans as part of the next coronavirus pandemic relief bill, a senior Senate official said Thursday. White House urges Republican lawmakers to promptly submit $ 1 trillion aid package.

The source said the bill, which has not yet been introduced to the Democrats, provides for direct payments to individuals and couples in the amount of $ 1,200 and $ 2,400, respectively. However, the source warned that negotiations on the bill within the party are not yet over..

Treasury Secretary Stephen Mnuchin said that in the interest of speeding up the process, the White House decided not to push for a payroll tax cut, which President Donald Trump has long sought..

Mnuchin also said the White House is working with Senate Republicans on formulations to expand unemployment benefits, which will expire on July 31..

When asked whether the bill would provide for a reduction in payroll tax, Mnuchin replied: «Not this time, but we’re going to come back to this question. New Coronavirus Relief Bill May Be Required».

Mnuchin and White House Chief of Staff Mark Meadows re-visited Capitol Hill Thursday morning and met with Senate Majority Leader Mitch McConnell.

Senate Republicans Prepare New Coronavirus Aid Package

«One of the problems with payroll tax cuts is that it takes time, so now we are much more focused on direct payments.», – Mnuchin told reporters outside the White House.

«Regarding unemployment benefits, we will come back to this issue to familiarize ourselves with the new wording and work them out., – he said. – We’re not going to pay people more to stay at home instead of at work. Therefore, we are considering a salary compensation of about 70 percent and working on the details.».

The Finance Minister told reporters that the proposal being developed by the Republicans will include $ 16 billion in new funding for testing for coronavirus with a total budget of $ 25 billion..

«We are focused on quickly allocating another trillion in 4.0. If version 5.0 has to be prepared in order to allocate more funds, the president will address this issue at the appropriate time.», – Mnuchin said in an interview with CNBC.