(AmericanProsperity.com) – With the CARES Act unemployment benefit ending this month, lawmakers are scrambling to get the next stimulus package ready. Previously, GOP lawmakers were not supportive of another stimulus check. With the most recent uptick in COVID-19 cases and steady unemployment numbers, however, many are now on board.
Senate Republicans, including Majority Leader Mitch McConnell (R-KY), are pushing for Americans to receive another check. However, many desire a reduced income cap — $40,000 instead of $75,000. Strong opposition from Democrats will likely result in a cap between $75,000 and $150,000.
The Senate majority has assembled a framework for CARES 2. It is tailored precisely to this phase of the crisis to deliver more relief to the American people. It represents an agreement in principle with the administration, and will be introduced next week.
— Leader McConnell (@senatemajldr) July 23, 2020
In addition, the next stimulus package could include the following:
- Extended Payroll Protection Program loans
- Employer tax credits
- Return to work bonus
- Rent or mortgage assistance
- Payroll tax cuts
More changes will come as the bill makes its way through Congress. Unprecedented government spending will continue to rise as lawmakers attempt to boost the economy and keep Americans safe.
However, the answer to “how much longer can we continue this massive amount of federal spending?“ is unclear.
~Here’s to Your Prosperity!
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