WASHINGTON - US Treasury Secretary Steven Mnuchin on Monday said Republicans will soon unveil a new spending Bill to aid the coronavirus-battered economy amid an ongoing impasse with Democratic lawmakers.
President Donald Trump's administration has balked at proposals from Democrats, who in May passed a US$3 trillion spending package in the House of Representatives but it stalled in the Republican-controlled Senate. The secretary said Republican Senate leaders will introduce a new Bill next week that would be focused on children and employment and offer liability protection to businesses as the economy attempts to reopen. The Senate is on recess and is due back in session Sept 8.
The Cares Act offered an extra US$600 in weekly unemployment payments, but those expired at the end of July.