President Donald Trump on Wednesday said he’s in favor of providing another round of stimulus checks to Americans, as he discussed what could go in another coronavirus aid package that Washington is expected to deliver around the end of this month.
“I support it, but it has to be done properly,” Trump said when asked whether he wanted more direct payments to individuals. “I support actually larger numbers than the Democrats, but it’s got to be done properly. We had something where it gave you a disincentive to work last time.”
The president’s remarks came during an interview with Fox Business Network that aired Wednesday. They echo June 10 comments from Treasury Secretary Steven Mnuchin, who said the Trump administration would “seriously look at whether we want to do more direct money to stimulate the economy.”
The Democratic-run House passed a $3 trillion coronavirus relief bill in May that would provide a second round of direct payments, at $1,200 per family member with a limit of $6,000 per household. The sweeping House measure championed by Speaker Nancy Pelosi was widely viewed as an opening offer in talks about another package with the Republican-controlled Senate and the Trump administration.
In the interview with Fox Business, Trump also criticized presumptive Democratic presidential nominee Joe Biden’s plans to increase taxes on the wealthy and raise the corporate tax rate to 28% from 21%.
“If you do that, you’re going to crash the market,” he said.
The president spoke as well about wearing face masks during the coronavirus pandemic, after Biden criticized Trump’s reluctance to wear personal protective equipment.
“I’m all for masks. I think masks are good,” he said.
“I had a mask on. I sort of liked the way I looked. I thought it was OK. It was a dark, black mask, and I thought it looked OK – looked like the Lone Ranger.”
U.S. stocks SPX, +0.50% DJIA, -0.30% were on track to close mostly higher Wednesday amid improving data on employment and manufacturing, as well as positive developments in a trial for a coronavirus vaccine candidate.