WASHINGTON — White House officials are pressing congressional leaders to approve a fourth Coronavirus-related stimulus package totaling much as $2 trillion in direct aid to Americans prior to the election, Fox Business is reporting.
Citing unidentified sources within the Trump administration, Fox claims the plan could include payroll tax cuts, which have been heavily pushed for by White House economic adviser Larry Kudlow and Treasury Secretary Steven Mnuchin, and aid to Democrat-controlled states such as California, Illinois and New York.
Additional perks of the package would reportedly include infrastructure spending, an extension of unemployment benefits to Americans impacted by the first wave of Coronavirus and additional liability protections for businesses as they attempt to reopen should a possible “second wave” of infections from the Coronavirus occur.
According to Fox, administration officials believe the timing is key and that such a package would drive the unemployment rate to below 10%, boosting President Donald Trump’s odds of a landslide reelection. Last week the economy reported a 2.5 million increase in new jobs and unemployment for May fell to 13.3 percent from 14.7 percent in April, when the shutdown was at it’s max. On Tuesday, another key economic improvement was reported as retail sales showed an 18 percent increase in May.
When reached for statement, both White House officials and representatives for House Speaker Nancy Pelosi had no comment.