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12 BUSINESS Trump’s News
since the Great Depression.
I n s t e a d , t h e L a b o r
Department said employers
actually added 2.5 million
jobs last month, and the
unemployment rate dropped
to 13.3 percent. Still, that
remains well above the peak
seen during the 2008
financial crisis.
"I do think the economy is
going to recover strongly, but
there is still significant
damage in parts of the
economy," Mnuchin said.
"And we're going to consider
using all of our fiscal tools,
working with Congress to
make sure we restore this
Mnuchin: Trump admin to 'seriously economy back to where it was
and where it should be.”
look' at more direct payments in
D e m o c r a t s a n d
next coronavirus relief package R e p u b l i c a n s h a v e
maintained that another
By Megan HenneyFOXBusiness
round of aid is needed to
The CARES Act included one-time payments of up to $1,200 for some Americans.
incentivize economic growth,
although they disagree on
Treasury Secretary to work, and we look The cash was intended
specific measures.
Steven Mnuchin said forward to working with to blunt the financial pain
Wednesday the Trump the entire Senate on this caused by the coronavirus Some options currently
a d m i n i s t r a t i o n w i l l one.” pandemic, which brought under consideration at the
"seriously look" at sending the economy grinding to a White House include a payroll
At the end of March,
another round of direct halt in mid-March. In the tax cut, liability protections for
Congress passed the $2.2
cash payments to some span of 11 weeks, more businesses reopening during
trillion CARES Act,
Americans in the fourth than 43 million Americans the outbreak, tax deductions
approving one-time
c o r o n a v i r u s r e l i e f filed for unemployment, or write-offs for individuals
payments of up to $1,200
package. the Labor Department who take a vacation during a
for individuals and $2,400
said last week. defined period of time, and a
"I think we're going to for married couples.
back-to-work bonus for
seriously look at whether There's also an extra $500 Mnuchin's comments
unemployed Americans
we want to do more direct p a y m e n t f o r e a c h come on the heels of the
returning to their jobs.
money to stimulate the dependent child under the surprisingly strong May
economy," Mnuchin said age of 17. The payments jobs report. "We need to move from
while testifying before the w e r e t a p e r e d f o r rescue assistance to more
Consensus estimates
Senate Committee on individuals who earned long-term economic growth
predicted the economy
Small Business and more than $75,000 and incentives," Larry Kudlow,
lost somewhere around 9
Entrepreneurship. "But I cut-off completely for another senior White House
million jobs in May,
think this is all going to be those earning more than economic adviser, told FOX
pushing unemployment to
about getting people back $99,000. Business on Friday.
20 percent -- the highest
