Americans may regret coronavirus stimulus checks, Karl Rove says
Karl Rove, former deputy chief of staff to President George W. Bush, argues direct checks and the coronavirus stimulus package may backfire.
President Biden will tap Gene Sterling, a former top economic official in the Obama and Clinton administrations, for a role to oversee the enactment of the administration’s $1.9 trillion coronavirus relief plan, according to a White House official.
Biden could announce the nomination as soon as Monday afternoon when he delivers remarks about the rollout of the American Rescue Plan, which he signed into law last Thursday.
SOME FAMILIES COULD RECEIVE UP TO $14,000 FROM BIDEN'S RELIEF BILL
Sperling has spent more than a decade at the highest levels of government, including twice serving as director of the National Economic Council under both former Presidents Bill Clinton and Barack Obama. He also helped to coordinate the bailout of Detroit automakers in 2008 as a counselor in the Treasury Department under Obama.
In the new role, he will be tasked with guiding the implementation of Biden's massive stimulus package, which includes a fresh round of stimulus checks to millions of Americans, a generous one-year expansion of the child tax credit and expanded unemployment benefits through Sept. 6.
It also provides hundreds of billions of dollars in aid for state and local governments, school districts, vaccine distribution efforts and small businesses still reeling from the duel health and economic crises.
YOUR 2020 TAX RETURN COULD AFFECT THE SIZE OF YOUR STIMULUS CHECK – HERE'S HOW
“There’s no one who knows how the federal government works better than Gene Sperling, and there’s no one better qualified to take charge of the implementation of the Rescue Plan and make sure it delivers for the American people," the White House official told Fox News.
White House press secretary, Jen Psaki, told reporters last week that Biden planned to appoint someone to “run point on implementation." Biden held a similar role in 2009 as vice president, helping to oversee the rollout of Obama's $900 billion American Recovery and Reinvestment Act.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Sperling was under consideration to serve as Biden's director of the Office of Management and Budget after the president's first pick, Neera Tanden, failed to secure enough support in the Senate, Politico reported. But the idea of Sperling as OMB director received major pushback from lawmakers, according to Politico, and the White House opted for a different avenue.
Fox News' Mark Meredith contributed to this report
Source: Read Full Article