That new $1,200 per person check that House Democrats want to send you?
President Donald Trump’s senior economic adviser, Kevin Hassett, said he’s willing to talk about it.
“Depending on the state of the economy, it’s something that I guess we would consider,” Hassett said Sunday on CNN’s “State of the Union.”
The House Democrats’ $3 trillion stimulus bill includes $1,200 payments for each family member up to $6,000 per household. The payments would phase out for individuals making more than $75,000 and couples earning more than $150,000.
The payments would not be adjusted for regional cost-of-living differences.
In addition, the House bill would give dependents over the age of 17, including full-time students below age 24, the $500 payments from the original stimulus bill that they previously were not eligible for. And unauthorized immigrants would be eligible for the new stimulus payments.
Senate Republicans have rejected the House bill, demanding instead that businesses be protected from lawsuits.
Hassett, though, said the White House was willing to discuss another round of stimulus payments. The first round provided $1,200 checks to around 140 million people, “an enormously successful part of the first three phases,” Hassett said.
There’s no assurances that the White House will agree to another round of stimulus payments. Hassett said they may not be needed if the economy comes roaring back as governors relax their shutdown orders.
“Right now, it looks like the economy’s picking up at a very rapid rate, in which case we could potentially move on to other things that the president has mentioned, like the payroll tax cut and potentially even a capital gains holiday,” Hassett said.
A payroll tax cut, opposed by leading Senate Republicans, would not help the almost 40 million unemployed, and a capital gains reduction primarily would benefit the wealthiest. Two-thirds of the existing tax break for capital gains goes to the richest 1% of taxpayers, according to a 2013 Congressional Budget Office report.
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Jonathan D. Salant may be reached at jsalant@njadvancemedia.com.
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