White House economic adviser Larry Kudlow took one quick question from reporters this morning after a pre-taped appearance on Fox News, and essentially echoed what he’s said before on provisions for the next stimulus bill.
“There will be unemployment insurance. For some reason some people in the media have said we’re ending it, that’s just not true," he said of the next stimulus package.
"We’ll probably put a cap on federal and state unemployment, and make sure there are incentives to go back to work. We’ll probably have a reemployment benefit and the President is very keen, as we are, on the payroll tax holiday. It could be a deferral, it could be a tax rate cut, but it’ll incentivize going to work, take home more wages,” Kudlow added.
Negotiations are expected to begin in earnest next week when Congress returns.
How next week will play out: A viscerally divided Congress (and White House) facing a roughly three-week deadline to reconcile diametrically opposed visions of what the economy needs to survive the resurgence of the coronavirus pandemic.
Senate Republicans are slated to release their plan and actual talks will, for the first time, kick into gear. All sides acknowledge the stakes are enormous. What nobody seems to agree on is how — and when — Congress and the White House will come together on an agreement.