Another coronavirus stimulus package is possible, according to White House economic adviser Kevin Hassett.
The top economic adviser to the president made it clear on Tuesday that the White House would “definitely support” another relief package to help the U.S. economy amid the coronavirus pandemic, according to The Wall Street Journal.
Speaking with the WSJ during a virtual CFO Network Summit, Hassett said, “There are a lot of things that really are necessary to make sure that once we open up that we actually lift off.”
“The odds of a Phase Four deal is something we talked with the president about last week. We even had a small group meeting this morning to talk about it,” he continued. “The odds of a Phase Four deal are very, very high.”
The economic adviser also predicts the third quarter will see “a very big increase.” He also believes that in June there will be 3.5 million to 4 million jobs added to the U.S. economy.
The jobs report for May saw the biggest increase ever, at least since 1939, with 2.5 million and a decline in the jobless rate at 13.3%.
Congress has passed several pieces of legislation for coronavirus relief so far totaling roughly $3.3 trillion.
Senate Republicans, however, made it clear that they do not plan to pass another coronavirus relief package before late July.
“The end of July,” Sen. Roy Blunt (R-Mo.) said of a potential timeline on another package, adding that it is “frankly my sense of when I think we’ll have all the information we need to put the next bill together. And it might be about the time when all of the money … has been spent.”
