Two senior White Officials told CNBC on Thursday that the Trump Administration would likely support a $3 trillion stimulus bill proposed by House Democrats that includes another round of stimulus payment.
The stimulus package dubbed the” Heroes Act” will be voted on Friday and is aimed to help curve the economic fallout from the COVID-19 pandemic.
The” Heroes Act” allocates funding for state and local governments, COVID-19 testing, and direct payments to Americans in which some households can see an upward of $6,000. $1,200 per person, $2,400 for married couples, and $500 per child under 17.
House Majority Leader, Nancy Pelosi said in a letter to her colleagues on Friday, “The plan that we are voting on today will make a tremendous difference not only in the budgets of the states but in the lives of the American people: their public health, the education of our children, the sanitation so crucial to defeating the virus, with the support of so many essential workers.”
A statement from the White House didn’t provide many details on the proposed” Heroes Act,” but said, “As President Trump has said, we are going to ensure that we take care of all Americans so that we emerge from this challenge healthy, stronger, and with economic prosperity, which is why the White House is focused on pro-growth, middle-class tax and regulatory relief.”
However, the bill may face opposition once it makes it to the Republican control Senate, with some Republicans calling the legislation” massive and unwarranted.”
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