Stimulus Check News: What Trump's Treasury Security Said About Whether There Will Be Another Round

Since stimulus checks were sent in April there have been questions on Capitol Hill as to whether additional aid would be needed and how much. On Wednesday, Treasury Secretary Steven Mnuchin said that the U.S. economy, while beginning to recover, will “definitely” require another round of stimulus payments in order to more fully bounce back, especially for businesses.

“We’re going to use all of our fiscal tools to work with Congress” to “restore this economy to where it was,” Mnuchin said at a meeting of the Senate Small Business and Entrepreneurship Committee. “I definitely think we are going to need another bipartisan legislation to put more money into the economy.”

Mnuchin further explained that this still hypothetical round of funds would be focused on industries hit the hardest by the coronavirus pandemic, including the entertainment, retail, and travel spheres. He also acknowledged that more money for individuals and families could happen, as well.

“Whatever we do going forward needs to be much more targeted to the industries and small businesses that are having the most difficulty reopening as a result of COVID-19,” Mnuchin explained further.

Led by the Democrat majority, the House recently passed a $3.5 trillion stimulus bill in May that would have bolstered unemployment insurance offerings and issued a new round of $1,200 checks. The bill was rejected by the Republican majority in the Senate, who will consider their own alternative in July and insist that future stimulus bills must be kept under $1 trillion.

Recently, 11 members of Congress sent a letter to Mnuchin urging the Treasury Department to utilize blockchain technology, like the kind used to send and track Bitcoin transactions, to deliver a new round of stimulus payments. The letter argued that the technology would allow for the quicker and safer distribution of funds to Americans in need.