Second Stimulus Reaches ‘Fundamental Agreement’

Second Stimulus Reaches 'Fundamental Agreement'

(FinancialHealth.net) – All week the White House and Republican lawmakers have been negotiating the next COVID-19 bill. The hope is to have it finished and voted on by the end of the month. On July 23, Americans finally got a glimpse into what might be in the legislation.

Treasury Secretary Steve Mnuchin spoke to reporters on Friday to give an update on the progress of the stimulus bill. According to the secretary, he met with White House Chief of Staff Mark Meadows and Senate Majority Leader Mitch McConnell (R-KY) came to an agreement and their staff is finalizing the bill.

Mnuchin said the “CARES 4” legislation will provide funding to help get children back in the classroom.

In addition to the school funding, the bill is expected to include help for unemployed Americans, Meadows told the press. There are reports they’ll match 70% of what workers made prior to being laid off. And it may include a second round of direct payments for people who make up to $75,000 a year.

The text of the bill is expected to be released soon. Lawmakers have indicated they would like to finish it as soon as possible. There’s no word yet on what will happen if the legislation isn’t completed before the August Recess.

This is a developing story, so we will keep you updated.

~Here’s to Your Financial Health!

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