Temporary incentive could encourage workers to return.
On Tuesday, Larry Kudlow, the president’s economic adviser, said that President Trump and the Administration are looking carefully at a potential “back to work bonus” to encourage Americans who had been laid off as the coronavirus pandemic spread to return to work.
“It’s something we’re looking at very carefully,” he said, referring to a proposal by Senator Rob Portman of Ohio, to provide a temporary $450-a-week bonus for unemployed workers returning to work. The incentive would be on top of their wages.
Kudlow said he feels Congress won’t approve another $500 per week in extra jobless benefits to laid-off workers, funds that proved a “major disincentive” to go back to work.
Kudlow said the U.S. is approaching a “turning-zone phase.” He said, “These signs are showing a lot more glimmers of hope and growth and the signs seem to be mounting.”
President Trump wants to see the economy reopen as fast as possible but stressed that stay-at-home guidelines need to be rolled back in a safe manner.
As the Lord Leads, Pray with Us…
- For President Trump and his economic advisers to be wise during their eagerness to return people to work.
- About whether a “return to work” bonus would incentivize people to get off the unemployment rolls and go back into employment.
Sources: Wall Street Journal, Fox Business, Reuters