![]() Last week, the Labor Department said that the unemployment rate in April hit 14.7 percent - the highest since the Great Depression. The president and I are having conversations with outside people." "What the president and I are now saying is we spent a lot of money, a lot of this money is not even into the economy yet," he told “Fox News Sunday.” "Let's take the next few weeks - I'm having discussions with both the Republicans and the Democrats to understand these issues. ![]() “Direct payments, unemployment insurance, rental and mortgage help and student-loan assistance are essential to relieve the fear that many families are facing.”Ĭ, FOX launches national hub for COVID-19 news and updatesīut Treasury Secretary Steven Mnuchin said Sunday the Trump administration is in no rush to pass another aid package. “We must put more money in the pockets of the American people,” House Speaker Nancy Pelosi, D-Calif., wrote in a letter to Democratic colleagues on Sunday night. Democrats also back additional direct relief to households. ![]() House Democrats plan to introduce legislation that includes nearly $1 trillion for states and local governments to cope with lost tax revenue from the crisis, according to The Wall Street Journal. Already, the federal government has passed four bills totaling nearly $3 trillion, including the $2.2 trillion CARES Act, which expanded unemployment benefits by $600 per week for up to four months sent a one-time payment of $1,200 to Americans earning less than $75,000 and established the Paycheck Protection Program. The report comes as Democrats and Republicans negotiate a fifth stimulus package. “The loan amount would in effect be drawn from the Social Security trust fund, but the interest rate is designed to fully reimburse the trust fund for the balance of the loan plus interest,” they wrote. Individuals that choose to not receive a check would keep their Social Security benefits completely unchanged and would incur no delay.ĭownload the FOX 5 DC News App for Local Breaking News and Weather Under the plan, the Social Security benefits would be delayed for “at most three months” for the typical individual in exchange for a $5,000 check. Rauh and Biggs outlined their proposal in an opinion piece published in The Hill at the end of April. The White House did not immediately respond to a request for comment, but a spokesperson told the Post that “President Trump has been clear that while he is in office, the American people can feel secure without a shadow of a doubt that he will completely protect Social Security and Medicare - end of story, full stop.” Typically, the earliest Americans can start collecting Social Security benefits is at 62 if you tap the benefits earlier, Social Security reduces your payments.
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