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White House Wants Stimulus by August Recess With $1 Trillion Cap

Published 07/07/2020, 15:02
Updated 07/07/2020, 15:18
© Bloomberg. Stools are stored on top of a table at a bar temporarily closed in Tucson, Arizona on June 30. Photographer: Cheney Orr/Bloomberg

(Bloomberg) -- The White House wants Congress to pass another stimulus package by the first week in August before lawmakers head home for their annual summer recess, and to keep the cost at $1 trillion or less, according to Vice President Mike Pence’s top aide.

“I think we want to make sure that people that are still unemployed or hurting are protected but at the same time, we want to take into consideration the fact the economy is bouncing back and want to try to contain the amount of spending,” Marc Short, Pence’s chief of staff, said Tuesday in an interview with Bloomberg Radio.

“There’s obviously been a lot of stimulus put in the system over the last couple bills, and so the price tag for us would be that.”

The White House and lawmakers are set to intensify talks on a new package of virus-related stimulus this month, as they return to Washington after the Independence Day holiday.

Short said the White House views liability protections as “essential” for companies to bring workers back and fully re-open the economy.

The House is scheduled to begin its recess by Aug. 3, with the Senate following a week later. Senate Majority Leader Mitch McConnell has said he wants Congress to complete work on the next phase of stimulus by then.

“By that time table, we want to have a bill on the president’s desk,” Short said.

©2020 Bloomberg L.P.

© Bloomberg. Stools are stored on top of a table at a bar temporarily closed in Tucson, Arizona on June 30. Photographer: Cheney Orr/Bloomberg

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