White House economic adviser says additional coronavirus stimulus package might not be necessary
“I think right now, because there’s been good news really, that the opening up is starting to happen faster than we expected, appears to be doing so safely, then there is a chance that we won’t really need a phase four,” Hassett said on Fox News Saturday morning.
Speaking to reporters after his interview on Fox News, Hassett said that a potential phase four deal might be geared toward “growth and taking off and recovering, rather than just building a bridge to recovery.”
He argued that Republicans are in a much better negotiating position on funding for states, and if they agree to it, Republicans “have to get something for it.”
On Saturday, Hassett said that aid to states “will be a political issue that will be worked out” between Republicans and Democrats on Capitol Hill. He added that Trump “is absolutely opposed to bailouts.”
On prospects of the US economy reopening, Hassett predicted that “almost every state will be mostly open economically” likely by the end of May.
Hassett said that unemployment might reach 19% and GDP loss for the second quarter could be as high as 40%.
Republicans have stipulated that more money for states must come along with liability protections for businesses and health care professionals from potential lawsuits.
CNN’s Clare Foran and Ted Barrett contributed to this report.