Coronavirus stimulus checks: Pence highlights 'direct payments to American families' amid stalled negotiations
Vice President Mike Pence reiterated the president's continued support for further stimulus measures as stalled negotiations on the next bailout package are expected to resume next week.
Pence said the White House and Congress could now "just focus on another relief bill" after reaching an agreement to avoid a possible government shutdown, he told CNBC on Friday. The deal could include a second round of stimulus checks - a provision on which both parties have similar views.
Read more: Coronavirus Stimulus Reviews: What Stops a Second Round Payment?
"Nobody wants to make more direct payments to American families than President Donald Trump," said Pence. "We sent these checks to American families and helped people through this difficult time."
President Donald Trump also spoke out in favor of further controls in August, while Treasury Secretary Steven Mnuchin reiterated his own support for the second round of economic checks on Tuesday.
President Donald Trump attends Mike Pence's acceptance speech for the Vice President nomination during the Republican National Convention on August 26, 2020 at Fort McHenry National Monument in Baltimore, Maryland. (Photo by Drew Angerer / Getty Images)
"We want to increase unemployment and make more payments for economic impact," Mnuchin said during a coronavirus crisis hearing. "Both were critical to the economic recovery."
Both Republicans and Democrats agree that another round of economic reviews should be included in any piece of legislation, but talks have been halted since Congress paused in mid-August. While negotiations are expected to begin after Labor Day, Republicans and Democrats still disagree on how much the next package should be worth and the future of key provisions.
What do Republicans and Democrats think about stimulus checks?
Both parties' proposals outline similar ideas about what the next round of stimulus testing would look like.
The Republican plan - called the HEALS Act - would send a second wave of stimulus checks to Americans of up to $ 1,200, plus an additional $ 500 for all addicts. The party proposed the plan proposed in late July but never voted on it in the Senate.
U.S. President Donald Trump's name appears on Economic Aid coronavirus scans sent to citizens across the country on April 29, 2020 in Washington, DC. (Photo by Chip Somodevilla / Getty Images)
The Democratic Plan called for taxpayers to receive $ 1,200 per person and an additional $ 1,200 dependent bonus for all dependents claimed on their tax returns. The proposal, known as the HEROES Act, was passed by Parliament in May but not taken up by the Senate.
Both proposals have similar eligibility criteria: single adults earning up to $ 75,000 would be eligible for the full check, while single adults earning between $ 75,001 and $ 99,000 would be eligible for discounted checks. Married couples with combined incomes up to $ 150,000 would receive $ 2,400, while those earning between $ 150,001 and $ 198,000 would receive discounted checks. This is also the same as in the first round.
Read more: Coronavirus Stimulus Checks: IRS Sends Back Up Payments
Under the Republican proposal, those without a Social Security number and non-resident foreigners - those who are not US citizens or US citizens and who do not have a green card or fail the essential attendance test - would not be eligible for payment.
In contrast, the Democrats' plan is to send payments to Individual Taxpayer Identification Number (ITIN) applicants and their families. The change would mean that more than 4.3 million adults and 3.5 million children would be eligible for payment, according to ITEP.
Another major difference is the bonus for relatives. The Democrats want to give $ 1,200 for each addict, while the GOP plan includes an additional $ 500 for each addict.
"Ready to Rise to $ 2.2 trillion"
U.S. House Spokeswoman Nancy Pelosi (D-CA) speaks to reporters during her weekly press conference at the U.S. Capitol on August 27, 2020 in Washington, DC. (Photo by OLIVIER DOULIERY / AFP via Getty Images)
Although the president has signed executive measures on student loan payments, additional unemployment benefits, an eviction moratorium and a wage tax deferral - which many experts believe are insufficient to help unemployed Americans - the White House has expressed an interest in continuing to negotiate additional incentives with Congress .
"We are in the middle of negotiations and will continue to focus on American families and American businesses," said Pence. "We're not going to allow Democrats in Congress to use a coronavirus relief bill to save poorly run democratic states in the country."
The disagreement between the two parties concerns the overall funding of the bill - the Democrats' HEROES bill is worth over $ 3 trillion while the GOP's proposal is worth $ 1 trillion - as well as some of the incentive provisions that the inclusion of liability protection for companies and schools, the amount of additional unemployment benefits and the financing of local and state authorities.
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Since then, Republicans have made proposals that are even below the original $ 1 trillion, while Democrats have agreed to cut their proposal down to $ 2.2 trillion.
"Originally, House and Senate Democrats made it clear that we would be ready to save $ 1 trillion if the White House added a trillion to a bill," spokeswoman Nancy Pelosi (D-CA) said in a statement last week . "To meet in the middle, we have now said we are ready to invest $ 2.2 trillion to meet the needs of the American people."
Denitsa is a writer for Yahoo Finance and Cashay, a new personal finance website. Follow her on Twitter @denitsa_tsekova.
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