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Second stimulus to US citizens pending approval

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WASHINGTON, D.C. - A new federal coronavirus aid program could be ready by Monday, the Associated Press reported this weekend.

Treasury Secretary Steven Mnuchin said Republicans have a plan backed by the White House.

The Associated Press reported there were plans to roll back the $600 weekly federal unemployment aid back to $100 - supported by the president - or $200, a plan preferred by Senate Republicans.

Extending the expiring unemployment benefit by some amount is a priority,  Mnuchin said.

A new round of $1,200 stimulus checks are also expected to be coming in August.  

ABC News reported Mnuchin said the direct payments would be based on the same formula from the earlier aid bill. Individuals making $75,000 or less, for example, received the full amount and those making more than $75,000 received less than $1,200 depending on their income. Individuals earning above $100,000 did not qualify for the payment.

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