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Treasury Secretary: COVID-19 Economic Aid 'Still Needed'

Katherine Gypson

   Treasury Secretary Steve Mnuchin said Tuesday a second massive round of
   aid addressing the economic impact of the coronavirus pandemic is
   "still needed," even as the U.S. economy is showing signs of recovery.

   Mnuchin's testimony comes as talks for a second round of aid have
   remained stalled on Capitol Hill since $600 a week in expanded federal
   unemployment benefits to millions of out-of-work Americans expired in
   late July.

   Congressional Democrats have proposed an extension of those benefits,
   while Republicans have put forward a proposal that would cap benefits
   at 70% of a worker's earnings. The overall price tag for a new round of
   aid has also divided lawmakers. Democrats proposed as much as $3
   trillion in aid, while Republicans have called for a $1 trillion
   package.

   Republicans and Democrats differ on the speed with which Americans
   should return to work while balancing health concerns, as well as
   markers for measuring the recovery of the U.S. economy.

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