On a trip to West Texas today, Trump spoke exclusively with Katie Orth of WMID in Midland. During the interview, Orth asked Trump whether $1,200 is enough for a second stimulus check. Here is how Trump responded:
President Trump: 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. We just had tremendous job numbers as you know it was just announced. We had great retail sales numbers, so this is all coming back. We had the greatest economy we’ve ever had and we had to close it up because you know we had to do it. We saved millions of lives by doing that, but now we’re bringing it back and now it’s going to come back. We gotta take care of the people in the meantime.”
Trump has made it clear previously that he wants a second stimulus check that is larger than the Democrats proposed. In the Heroes Act — the $3 trillion stimulus package that House Democrats passed — the second stimulus check is $1,200. This implies that Trump wants a second stimulus check that is more than $1,200. Whether Trump’s comments today mean that the second stimulus check eventually may be more than $1,200, or if there are discussions about increasing the amount of the second stimulus check, is unclear. On Monday, Senate Republicans announced the Heals Act (Health, Economic Assistance Liability Protection & Schools Act), a ~$1 trillion stimulus package proposal as a follow up to the Cares Act and a response to the Heroes Act. While Senate Republicans included a second stimulus check in the Heals Act, the second stimulus check is proposed as $1,200. This is the same amount that Treasury Secretary Steven Mnuchin confirmed as well, and the eligibility criteria for the second stimulus check are the same as the first stimulus check in the Cares Act.
To date, both Republicans and have Democrats have proposed a one-time, second stimulus check of $1,200 for individuals who meet income and other requirements. Under the Republican proposal, second stimulus checks (or Economic Impact Payments) would work like this:
Zack Friedman is the bestselling author of the blockbuster book, The Lemonade Life. Apple named The Lemonade Life one of “Fall’s Biggest Audiobooks” and a “Must-Listen.”
Zack Friedman is the bestselling author of the blockbuster book, The Lemonade Life. Apple named The Lemonade Life one of “Fall’s Biggest Audiobooks” and a “Must-Listen.” Zack is the Founder & CEO of Make Lemonade, a leading online personal finance company that empowers you to live a better financial life. He is an in-demand speaker and has inspired millions through his powerful insights, including more than 125 million people who have read his advice. Previously, he was a chief financial officer, a hedge fund investor, and worked at Blackstone, Morgan Stanley, and the White House. Zack holds degrees from Harvard, Wharton, Columbia, and Johns Hopkins.
News – Trump: Second Stimulus Checks May Be Higher Than $1,200