President Joe Biden said on Tuesday he agreed with a proposal by Democratic lawmakers that would limit or phase out stimulus payments to higher-income individuals as part of his $1.9 trillion coronavirus relief bill.
Gavino Garay reports.
Biden meets with Dimon, execs on relief plan
As the impeachment trial of his predecessor began in Congress on Tuesday, U.S. President Joe Biden stayed focused on his coronavirus relief package….
Meeting with Jamie Dimon -the CEO of JPMorgan Chase- along with other executives to drum up support for his $1.9 trillion plan to revive the economy..
"I think we're in a position to think big." Also at the meeting: The CEOs of Walmart, GAP and Lowe's, along with Tom Donohue, of the U.S. Chamber of Commerce and Treasury Secretary Janet Yellen.
Biden also said he supported a Democratic proposal to send $1,400 stimulus checks to Americans earning up to $75,000 in income, or $150,000 per household.
The latest Democratic proposal would phase out those payments at lower income thresholds than previous stimulus checks and completely cut off individuals earning more than $100,000 and couples earning more than $200,000.
Biden also discussed infrastructure and the minimum wage with the chief executives ..
Though in an interview over the weekend, Biden said he didn't think he'd see a minimum wage hike in this round of stimulus.
Tuesday's meeting served as a bit of counterprogramming to the historic trial on Capitol Hill… from which Biden has distanced himself ,,, "The Senate has their job; they're about to begin it.
I'm sure they're going to conduct themselves well." Despite Biden's desire to focus on unity, his stimulus package faces opposition from Republicans, who view it as too large.
Biden's fellow Democrats in Congress approved a budget outline that will allow them to muscle the stimulus through in the coming weeks… without Republican support.