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President Donald Trump urged Republicans on Wednesday to back larger stimulus checks to prop up an economy still ravaged by the pandemic.

“Go for the much higher numbers, Republicans, it all comes back to the USA anyway (one way or another!),” he said in a tweet.

Democrats are “heartless”. They don’t want to give STIMULUS PAYMENTS to people who desperately need the money, and whose fault it was NOT that the plague came in from China. Go for the much higher numbers, Republicans, it all comes back to the USA anyway (one way or another!).

— Donald J. Trump (@realDonaldTrump) September 16, 2020

He also charged Democrats with being “heartless” and not wanting to provide people with another direct payment, despite the fact that measure was left out of the latest coronavirus relief proposal from the GOP.

A senior administration official told Business Insider that the president was referring to direct payments.

Read more: Morgan Stanley says the stock market’s future is ‘unusually dependent’ on another stimulus package — and recommends 5 portfolio moves to make if Congress passes another round

Back in March, Congress authorized $1,200 stimulus checks, plus an additional $500 per child under the age of 17. Republicans, Democrats and Trump all back additional direct payments in the next coronavirus relief package, among the few areas of agreement.

The GOP initially included a provision for additional checks in their spending package in late July. But that was not the case in their newest proposal.

Trump’s remarks come as Republicans and Democrats remain deadlocked on passing another economic aid package. Nearly 30 million Americans are still on unemployment benefits and many economists are warning of a “K-shaped” recovery where wealthy people at the top surge ahead and average people are left behind.

Pressure is mounting …read more

Source:: Business Insider


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