Is Another US Stimulus Coming? Democrats, Republicans Divided About Second Round After Better-Than-Expected Job Report

Amid concerns about the coronavirus' impact on the U.S. economy, White House economic adviser Kevin Hassett said Saturday there will "definitely" be another stimulus package. Hassett told Fox News that the Trump administration would continue to monitor economic data to determine how much stimulus would be needed.

Democrats and Republicans remain divided on additional stimulus measures after May's jobs report. Last month’s unemployment rate stood at 13.3%, down from 14.7% in April.

"Republicans generally want to be patient: There's a lot of actual spending left to go out the door; the Fed still has trillions in leverage it can put on the table; and as states reopen, we need to understand what is going on in the economy and what new policies might be called for to best help individuals, families, and businesses. Later in July is the earliest possible window for potential legislative action," a senior Trump official told CNN.

Speaker of the House Rep. Nancy Pelosi, D-Calif., said Friday in a statement that “now is the worst possible moment to take our foot off the gas,” as 21 million Americans are out of work. Pelosi is urging the Republican-majority Senate and the White House to support the $3 trillion Heroes Act, a stimulus package passed last month in the Democratic-majority House of Representatives.

“The GOP Senate must pass The Heroes Act, or else this fragile progress will collapse, and the tens of millions of Americans still desperate for help will fall deeper into despair,” Pelosi said. "The President must join us to support real action to protect lives and livelihoods, rather than hide behind these jobs numbers and pretend that the job is done.”

President Trump has said the Heroes Act is “dead on arrival,” while Senate Majority Leader Mitch McConnell, R-Ky., has called the legislation a “liberal wishlist.” The Heroes Act features another round of stimulus checks, boosted unemployment insurance until the end of the year, and aid to state and local governments.

Under the Heroes Act, individuals earning less than $75,000 a year would receive a $1,200 direct payment, while those earning up to $99,000 would receive a smaller check, depending on their salary. Married joint tax filers would receive $2,400 if their shared income is below $150,000. Families would also receive an extra $1,200 each for a maximum three dependents, allowing one household to receive up to $6,000.

Republicans want the next stimulus bill to include liability protections for businesses amid the pandemic. The Trump administration would likely support a payroll tax cut and another round of stimulus checks, along with financial incentives to encourage Americans to go to restaurants and take vacations.

In late March, Congress passed the $2 trillion CARES Act stimulus legislation, as the coronavirus slammed the economy. The bill boosted unemployment insurance by $600 a week and provided direct payments of at least $1200 to most Americans. The law also provided financial relief to small businesses and industries impacted by the pandemic.

As of Saturday at 10:55 a.m., there are 1,898,401 cases of coronavirus in the United States, with the domestic death toll at 109,215.