The stimulus checks are coming as both Democrats and Republicans now agree that direct payment will be part of the next coronavirus stimulus package. Also, both sides have proposed giving $1,200 in stimulus checks to eligible Americans. President Donald Trump, however, says coronavirus stimulus checks could be higher than $1,200.
Coronavirus stimulus checks higher than $1,200?
Trump, during a visit to West Texas on Wednesday, suggested that the amount of coronavirus stimulus checks could be higher than the payment issued under the first stimulus package, the CARES Act. He flew to Texas for a fundraiser and to visit an oil rig.
ARK Invest is known for targeting high-growth technology companies, with one of its most recent additions being DraftKings. In an interview with Maverick's Lee Ainslie at the Robinhood Investors Conference this week, Cathie Wood of ARK Invest discussed the firm's process and updated its views on some positions, including Tesla. Q1 2021 hedge fund letters, Read More
During the visit, Trump in an interview with KMID talked about the next stimulus checks, vaccine timetables, unemployment in the energy sector and more. When he was asked if the payment of $1,200 would be enough, the President said, “We’re going to see it may go higher than that, actually.”
“I’d like to see it be very high because I love the people, I want the people to get it, you know, the economy is going to come back,” Trump continued. “We saved millions of lives but now we’re bringing (the economy) back … we gotta take care of the people in the meantime.”
When talking about the vaccine, Trump sounded optimistic, saying he is satisfied with the progress made by the U.S. drug companies. Trump expects there could be “something” before the year-end or “maybe sooner than that.”
When asked if he would take the vaccine, Trump said yes. “I would do it, yeah, I mean if I take it first they’ll say ‘he shouldn’t do it first,’ but if I take it last they’ll say ‘he shouldn’t take it last,'” Trump said.
Not the first time from Trump
For the coronavirus stimulus checks to be higher than $1,200, a compromise needs to be reached between both the chambers, politicians and the White House. Trump, however, shared no details of how much higher the next stimulus checks would be.
This is not the first time Trump has said something about sending stimulus checks of a higher amount. Previously, he said that the next stimulus checks would be generous and more than what the Democrats have proposed.
The Democrats-backed HEROES Act, which was passed by the House in May, proposes giving stimulus checks of $1,200 to millions of eligible Americans. Similarly, the HEALS Act, the GOP’s proposed relief package introduced earlier this week, proposes to pay up to $1,200 for single tax filers and $2,400 for those who file jointly.
Both proposals, however, differ in their amount for dependents. The HEROES Act proposes $1,200 per dependent (for up to three), while the HEALS Act gives $500 for up to three dependents. Also, the HEROES Act assured payment to anyone with a taxpayer identification number, while the HEALS Act promises payment to those with a social security number.