The Trump administration still supports the idea of another round of stimulus checks, according to Treasury Secretary Steven Mnuchin.
On September 22, Mnuchin expressed to the House Financial Services Committee in a hearing broadcast by C-SPAN that the White House is “ready to reach a bipartisan agreement.”
The Treasury secretary noted that President Donald Trump remains on-board with a second round of $1,200 payments for individuals and $2,400 for couples who file jointly.
“The president and I remain committed to providing support for American workers and businesses,” he said. “I believe a targeted package is still needed and the administration is ready to reach a bipartisan agreement.”
Mnuchin emphasized during the committee hearing that more stimulus money is needed to refuel the economy.
Negotiations for a second coronavirus stimulus package remain at an impasse as congressional leaders continue to dispute the overall price tag.
Forbes reported “there is no timetable,” despite the looming November 3 presidential election.
“Despite both parties saying they want a stimulus deal, there is no timetable or path to consensus,” the outlet reported.
Here’s what you need to know:
House Democrats Are Also Calling for Renewed Stimulus Check Efforts
During a September 22 congressional hearing with Mnuchin and Federal Reserve Chairman Jerome Powell, House Democrats called for renewed second stimulus check efforts, according to CNBC.
Representative Al Green, a Texas Democrat, said the payments should be of high priority because “the rent must be paid.”
“If we do not do this, we will put persons at risk of being evicted at a time when we are having a pandemic that is still taking lives in this country,” he said.
When Representative Rashida Tlaib of Michigan asked Mnuchin whether he believed another round of checks would “help stabilize the economy,” the Treasury secretary responded positively, CNBC said.
“I do,” Mnuchin assured, according to CNBC. “The administration does support another stimulus payment.”
Mnuchin clarified that any potential proposal would first need “bipartisan support,” though, the outlet stated.
“We obviously can’t pass a bill in the Senate without bipartisan support,” he added. “Our job is to continue to work with Congress to try to get additional help to the American public.”
Nearly 9 Million People Still Haven’t Received Their Stimulus Checks
Roughly 9 million people still haven’t received their initial stimulus checks, according to the Government Accountability Office.
That’s because the Department of the Treasury and its Internal Revenue Service have not yet identified everyone who is eligible to receive a stimulus check, or how many eligible recipients have not received the funds, the Office said in its recent report.
Such missing data “could hinder outreach efforts and place potentially millions of individuals at risk of missing their payment,” the report stated. The report recommended that the IRS “update and refine the estimate of eligible recipients” who haven’t filed for payments and work with “outreach partners” to increase the effectiveness of communications efforts.
The IRS is now mailing letters to notify the large pool that they may be eligible for the money, according to a press release.