Treasury Secretary Steven Mnuchin on Sunday threw cold water on the prospect of extending $600 un…

Treasury Secretary Steven Mnuchin on Sunday threw cold water on the prospect of extending $600 un…

Treasury Secretary Steven MnuchinSteven Terner MnuchinBiden calls on Trump, Congress to enact an emergency housing programSunday shows preview: White House, Democratic leaders struggle for deal on coronavirus bill’Progress’ but no deal as coronavirus talks head into next week MORE on Sunday threw cold water on the prospect of extending $600 unemployment benefits for Americans for the duration of the COVID-19 pandemic.
In an interview with ABC’s “This Week,” Mnuchin suggested that the payments, which expired last week, led to some out-of-work Americans being “overpaid” and indicated that he believed they were slowing the return of workers to the labor market.
“Unemployment is supposed to be wage replacement, so it should be tied to some percentage of wages,” he said. “The fact that we had a flat number was only an issue of an emergency where we had 30-year-old computer systems.”
“I think, on the concept we absolutely agree on enhanced unemployment,” Mnuchin continued. “We want to fix the issue where in some cases people are overpaid, and we want to make sure there’s the right incentive [to get back to work.]”
Treasury Secretary Mnuchin tells @MarthaRaddatz theres no question that $600 unemployment insurance is a disincentive to find a job in some cases.
There are cases where people are overpaid, he adds when pressed about study refuting his argument. https://t.co/HNQgCe39RNpic.twitter.com/1zceOdxULW
This Week (@ThisWeekABC) August 2, 2020
Democrats rejected a short-term stimulus deal from the Treasury secretary and White House chief of staff Mark MeadowsMark Randall MeadowsBiden calls on Trump, Congress to enact an emergency housing programSunday shows preview: White House, Democratic leaders struggle for deal on coronavirus bill’Progress’ but no deal as coronavirus talks head into next week MORE last Thursday. The exact provisions of that package were not made public, but included a temporary extension of unemployment benefits, according to Meadows.
President TrumpDonald John TrumpTrump nomination to be held in private: reportGraham defends Trump on TikTok, backs Microsoft purchaseFederal appeals court rejects Stormy Daniels libel case against TrumpMORE and other white House officials have urged Democrats to agree to a short-term stimulus deal while Senate Republicans debate over the specifics of a longer-term package. Federal unemployment insurance payments totaling $600 weekly expired on Friday, with no extension for the benefits in site as millions of Americans face rent payments on Aug. 1.

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