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Mnuchin says White House will propose reducing unemployment benefits to 70% of wages

Treasury Secretary Steve Mnuchin said on "Fox News Sunday" that the White House will propose capping supplemental unemployment insurance in the next stimulus package to replace 70% of individuals' lost wages.

Why it matters: Republicans are opposed to extending the $600-per-week supplemental benefits included in the CARES Act passed in March, arguing that it disincentives Americans to return to work because many people made more money on unemployment than they did in their prior job. Those benefits set to expire on July 31.

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