Treas Sec Mnuchin on CNBC, with emphasis on.....>

FED: Treas Sec Mnuchin on CNBC, with emphasis on the next COVID relief plan

which Republicans may reveal today. Says Pres Trump focused on "kids and jobs".

- Says they are looking at an extension of unemployment benefits "based on

approximately 70% wage replacement," (which would be around $175-200/week, vs

$600 now, and $100/week mentioned as a proposal Wednesday).

- Payroll tax cut idea seems dead: "very good pro-growth policy... but president

wants to get money into peoples' pockets now... [payroll tax cut] won't be in

the base bill...we're focused on putting another trillion in quickly, that'll be

CARES 4.0. If we've got to come back for CARES 5.0, for more money, the

president will consider at the time... The president's preference is we send out

direct payments quickly."

- Will meet with Senate's McConnell this morning.