News: New economic stimulus of $1,200 per taxpayer and extension of moratorium on evictions
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According to statements by White House economic adviser Larry Kudlow in an interview with CNN, a new check for $1,200 per eligible taxpayer will soon be paid and the moratorium on deportations will be extended.
The news comes amidst a cloud of doubt, as the moratorium on evictions expired on Friday and the $600 increase in weekly unemployment benefits ended over the weekend.
A new $1,000 billion aid package finalized by the government:
The government has finalized the next aid bill, worth about $1 trillion, and will introduce it on Monday.
The plan is expected to include a temporary but reduced extension of unemployment benefits, a new round of stimulus checks, corporate liability protection and funding to help schools restart. It will also include $16 billion in new testing funds and tax incentives to encourage businesses to rehire employees.
"The check is there, the reemployment incentive is there," Kudlow said, "There will be relief, tax credits for small businesses and restaurants."
Kudlow also said the administration plans to extend the federal moratorium on evictions, which has protected millions of tenants over the past four months. U.S. cities were bracing for a wave of evictions when the moratorium expired Friday.
Negotiations still underway with Democrats:
The state's $600 weekly unemployment benefit supplement, enacted in March, ended last weekend. Democrats want to extend the assistance while Republicans are ready to cut the subsidy, arguing that extended assistance is a disincentive for unemployed Americans to find work.
While negotiations continue, it is not yet clear when the potentially reduced unemployment supplement will take effect. The U.S. unemployment rate has climbed to more than 10 percent as a result of the pandemic, and nearly 32 million Americans are now collecting unemployment benefits, according to the Labor Department.
Even as COVID-19 cases mount in the South and West, Kudlow remains optimistic about an economic recovery in the U.S. "The odds are in favor of a big increase in job creation and a big reduction in unemployment," he said.
Sources : CNN
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