White House economic adviser Larry Kudlow said on Monday he could "conclusively" confirm a phase 4 coronavirus relief package is on its way as many Americans' financial futures remain uncertain because of coronavirus.
Continue Reading Below
"As you read the reports and talk to people on both sides of the aisle on the Hill, it is increasingly clear that there will be an additional package," Kudlow told "Varney and Co." "We will try to make it targeted, we will try to incentivize not just work, although work is crucial, and going back to work. We want to incentivize investments, we want a pro-growth package."
The president has publicly supported provisions like a payroll tax holiday, "modest" return to work bonuses, unemployment reform, a Paycheck Protection Program extension, targeted direct assistance and a capital gains tax holiday, Kudlow said.
Kudlow also address the U.S.'s strained relationship with China in light of the Phase 1 trade deal that was finished up earlier this year.
"The president is not in a good mood about China, nor is anybody in the administration," Kudlow said.
"Having said all that, we are still engaging on the phase one trade deal," he said. "China says they will implement their side of the deal. Let’s take a look and see. I hope that is correct. But the relationship with China on national security grounds, by the way, on investor protection and fraud grounds, that’s another issue that’s coming up."