Second stimulus check would be smaller: Larry Kudlow

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Under the CARES Act, payments of  $1,200 for each adult with adjusted gross incomes of up to $75,000 were distributed. The threshold for married couples is $150,000 and they are eligible for $2,400 and $500 per child.

Another round of stimulus payments could be distributed to people earning less than $40,000, Senate Majority Leader Mitch McConnell has said.

The White House has not confirmed that figure.

Kudlow did say, however, that another stimulus package could include unemployment reforms. The $600 benefit bump given to American claiming unemployment insurance is scheduled to expire at the end of the month.

Democrats have proposed extending the additional $600 benefit, but Republicans are concerned that it discourages people from seeking out new employment because many are being paid more with the benefit than they had been while they were working.

Kudlow mentioned a”back-to-work bonus” on Friday, which would provide an incentive for people to return to the workforce.

A potential bill is expected to be detailed later this month, when both chambers of Congress are back in session and before lawmakers leave for August recess.

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