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President Trump just released more details about his thoughts on the next stimulus package and they are pretty revealing.
First, during an interview with Fox Business Network that aired Wednesday, President Trump reiterated that he supports another round of stimulus checks.
He stated that he supports it but that it “has to be done properly.”
Then he said something that was very interesting.
“I support actually larger numbers than the Democrats, but it’s got to be done properly. We had something where it gave you a disincentive to work last time.”
There definitely seems to be a misalignment between the White House and leaders and the Republican controlled Senate.
Initially, Republican leaders stated that the maximum amount they would be interested in passing for an additional stimulus package would be around $1 trillion.
They also expressed a lot of doubt about more stimulus checks.
The proposed HEROES Act is set at around $3 trillion and now we have the president going on record that he would support numbers larger than those supported (and presumably proposed) by Democrats.
So it’s very, very interesting to hear these statements that are not directly aligned with Republicans.
I’m sure many Republicans in the Senate are not thrilled about the president explicitly supporting packages that are presumably valued at three times higher than what Republicans initially were interested in.
You can tell that the White House is also focusing on providing the right incentive to get people back to work.
The president’s comments are yet another instance of officials bringing up the fact that millions of people have the incentive to stay at home rather than work because they are getting so much in aid in the form of unemployment bonuses.
Those expanded unemployment benefits are set to expire at the end of this month and I think they are going to be rolled back because of the incentive to not work.
But again the situation is complicated due to the rapid spikes in coronavirus cases that we are seeing.
Like I’ve said before, it’s going to be difficult to encourage people to go back to work when the workplaces may be more dangerous now than they were when they left.
On an unrelated note, the president was also asked about wearing face coverings and he stated:
“I’m all for masks. I think masks are good.”
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Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.