Treasury Secretary Steven MnuchinJabin Botsford/The Washington Post/Getty Images

“There is a strong likelihood we will need another bill” to keep the economy afloat through the coronavirus pandemic, Treasury Secretary Steven Mnuchin told The Hill on Thursday.
Mnuchin’s comments arrive as House Democrats’ $3 trillion stimulus package sits stuck in the Senate, where Majority Leader Mitch McConnell refuses to consider the legislation.
Senate Republicans have balked at extending a $600-per-week expansion to unemployment insurance, and President Trump has indicated the government should monitor how current aid measures play out before issuing new relief.
Mnuchin expects second-quarter figures to be “dreadful” before the economy recovers in the second half of 2020.
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Treasury Secretary Steven Mnuchin said Thursday that another coronavirus relief bill from Congress is likely needed to keep the economy intact before a nationwide reopening.

The House passed a $3 trillion stimulus measure last week but the bill has since been mired in the Senate, where Majority Leader Mitch McConnell has refused to push it forward. President Donald Trump has indicated he would rather mull the effect of already issued aid from the Federal Reserve and Congress before pushing for a new package.See the rest of the story at Business Insider

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The Fed’s April meeting minutes detailed a potential 2nd-wave virus scenario that could drag on the economy into 2021Another stimulus bill is likely needed to revive the economy, Dallas Fed president saysTreasury Secretary Mnuchin said employees who turn down their old jobs can lose unemployment benefits under small business aid program

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PelosiWin McNamee/Getty Images

The House passed a $3 trillion coronavirus bailout, dubbed the HEROES Act, with a 208-199 vote.
Spanning 1,815 pages, the bill outlines a list of priorities, including another round of $1,200 stimulus checks, a raise for essential workers, and increased health insurance coverage.
Despite passage in the House, it is not likely to be backed by Senate Republicans, who have expressed disapproval of the bill.
During its unveiling by House Democrats earlier this week, Senate Majority Leader Mitch McConnell called the bill a “big laundry list of pet priorities” that has “no chance of becoming law.”
However, being signed into law is not entirely the mission of the HEROES Act.
“Instead, its passage was meant for Democrats to demonstrate their priorities and signal what they will fight for in a later bipartisan bill that could pass in June,” Business Insider’s Kimberly Leonard reported.
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The House passed a second $3 trillion bill aimed at providing relief and support to those impacted by the coronavirus pandemic on Friday.

The bill, known as the Health and Economic Recovery Omnibus Emergency Solutions Act, or the HEROES Act, follows the first coronavirus bailout signed into law in late March with bipartisan support, the CARES Act.See the rest of the story at Business Insider

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Republicans are falling in line with Trump’s push to reopen the economy after weeks of bipartisan support for staying-at-home, poll showsThe US and China are on the brink of a new Cold War that could devastate the global economyJared Kushner says that after the country reopens ‘it will be very hard for America to ever lock down again’

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