Kudlow: Recovery not dependent on COVID-19 relief, but it would help

White House economic adviser Larry Kudlow said Tuesday that additional coronavirus stimulus spending is not necessary for an economic recovery, though he added that it would be helpful. 

“We are in a self-sustaining recovery,” Kudlow told Fox News. “Besides the jobs, we’re in a housing boom, we’re at an autos boom, we’re in a consumer spending boom. … Small businesses have greater confidence.”

“I think targeted areas could be very helpful, and could even make the recovery even stronger,” he added. 

Kudlow’s comments come the same day Senate Majority Leader Mitch McConnell (R-Ky.) announced that the Senate will vote on a scaled-back GOP coronavirus relief package after weeks of closed-door talks between Republican senators and the White House. 

The bill is expected to include an unemployment benefit, another round of Paycheck Protection Program funding, and more money for coronavirus testing and schools. It comes after a months-long stalemate between lawmakers and the White House on coronavirus stimulus funding. 

“I’m not saying the recovery is dependent on it but I am saying it would help. It could make things even better,” Kudlow said. “So why don’t we just take those four or five areas, do it narrowly, do it in a targeted way and let’s get this thing done for heaven’s sake.”