August 2, 2020

Treasury Secretary Steve Mnuchin on Sunday complained that many people who receive unemployment benefits during the pandemic have been "overpaid."

During an interview with ABC news, Mnuchin said that Republicans are pushing back against the $600 weekly federal unemployment benefit because it is more than many people received from their jobs.

"Unemployment is supposed to be wage replacement," the Treasury secretary told ABC's Martha Raddatz. "So it should be tied to some percentage of wages."

"We want to fix the issue where in some cases people are overpaid," he continued. "And we want to make sure there's the right incentives."

"Do you do think it's a disincentive to find a job if you have that extra $600?" Raddatz asked.

"There's no question," Mnuchin replied. "In certain cases, where we're paying people more to stay home than to work, that's created issues in the entire economy."

Raddatz interrupted by pointing out a Yale study which found that there is no evidence that the $600 weekly payment is a disincentive to return to work.

"I went to Yale," Mnuchin replied. "There are certain things, I don't always agree."

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