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8/11/2020, 6:22 PM (Source: TeleTrader)
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Kudlow: States don't have to pitch in for relief funds

United States administration will issue an executive order under which the Federal Government will pay $300 per week in emergency unemployment funds, while the states' obligation to chip in 25% of the money will be discarded, National Economic Council Director Larry Kudlow (pictured) said on Tuesday.

Talking to CBS, Kudlow said that it will take two weeks for the order to take effect, but noted that he believes the states will be able to apply for the benefit "retroactive to August 1."

After the negotiations on the fourth installment of the COVID-19 relief package hit a roadblock, US President Donald Trump issued four executive orders on the economic stimulus measures. Both sides have since called for the negotiations to continue.

Breaking the News / BU