Senate Republicans plan to introduce their version of a second coronavirus stimulus package on Monday, according to Treasury Secretary Steven Mnuchin.
House Democrats passed their version of a second coronavirus relief bill in May. Mr. Mnuchin, undisturbed by the characterization by “Fox News Sunday” host Chris Wallace of dysfunction within GOP-ranks, said on “Fox News Sunday” that the Trump Administration and Senate Republicans are “completely on the same page.”
“The bill will be introduced Monday and we are prepared to act quickly,” Mr. Mnuchin continued.
The news comes as many benefits from the first relief bill passed this spring approach their expiration dates.
The Republican plan, according to Mr. Mnuchin, will have a price tag of $1 trillion.
When asked about coming to a workable compromise with Democrats, Mr. Mnuchin remarked that the bill could be passed as one large omnibus package or, if talks stall, smaller time-sensitive bills could be passed individually.
Expiring unemployment benefits and liability coverage from “frivolous lawsuits for schools and universities,” are the “most pressing issues,” Mr. Mnuchin suggested.
Some employees found themselves making more money staying at home and receiving unemployment benefits than they did working thanks to the federally-funded $600 in added compensation from the first relief bill. That problem will be fixed, Mnuchin said, by setting benefits at 70% wage replacement.
A second round of direct payments will also be in the GOP-released plan. What will not be included in a second bill, however, is a payroll tax cut, which faced strong opposition from Democrats as well as some Republicans.
The final plan “will need bipartisan support,” Mr. Mnuchin said.