New stimulus package could be on the way for struggling Americans
More help could be on the way for those struggling financially during the pandemic.
A new trillion-dollar relief package is expected to be revealed, including anther round of $1,200 stimulus checks, additional school funding and a limited extension of current unemployment benefits.
The text of the bill has not been released yet, but top officials said on Sunday that another stimulus payment is on track. However, Republicans are looking to end or reduce a $600 per week unemployment insurance enhancement.
The extra money has been controversial since it raised some workers' take-home pay above what they were making when they were working.
"We had some people we wanted to come back, but they took the other road, and eventually that's gonna run out and we're not gonna have space for them here," says 317 Main owner Eric LeVine.
But there are some who believe the unemployment insurance funds need to remain, saying it has been invaluable during these tough times.
"I think the unemployment should be the same, continue, as we border on foreclosure and eviction," says Carol Blair, of Massapequa Park.
There is a possibility the bill could include a reemployment and employee retention bonus, plus tax credits for small businesses and restaurants.
The package will likely designate over $1 billion to getting kids back to school, as well as more money toward virus testing - as cases continue to surge around the country.
"We are talking about employment benefits and so forth. Don't forget there's a $1,200 check coming that's is going to be part of the new package," says Larry Kudlow, White House economic adviser.
Senate Minority Leader Chuck Schumer said Sunday that Republicans have been twiddling their thumbs on a stimulus plan until the last minute, as benefits will run out on Friday.
But with all that is in the potential bill, what's not in it is help for state and local governments, which is included in the HEROES Act, which has passed in the House.
"State and local governments from New York City to Long Island, to New York state are going broke and if they don't get help, many, many more will be laid off," says Schumer.