TOPLINEPresident Trump took to Twitter on Friday to scold Democrats for “holding back” the next round of stimulus checks, which he said were “ready to be sent out.” Here’s why that’s not the case. ASSOCIATED PRESSKEY FACTSThe IRS needs to be legally authorized to send out direct payments. Crucial quoteThat said, Treasury Secretary Steven Mnucin acknowledged on CNBC last week that the administration’s goal is to send checks quickly. Earlier this week, Trump suggested that the next round of payments may be “higher” than the $1,200 per eligible adult that both parties agree on—there’s no evidence that this is likely to happen. Further readingSlashing $600 Unemployment Benefits Would Be ‘Absolutely Devastating’ For U.S. Economy (Forbes)Are You Eligible For A Stimulus Check In GOP’s New Bill?

Source: Forbes July 31, 2020 20:26 UTC