New Stimulus Will Help Businesses, Not Individuals: White House Adviser

White House economic adviser Larry Kudlow said a "second wave" of coronavirus cases is not coming and that while discussion of a second stimulus package round is very likely, it won't be until after July and will focus on businesses rather than individuals.

Kudlow confirmed to CNBC's Squawk Box Monday that President Donald Trump's administration will not be implementing any type of additional shutdown in the coming months regardless of potential case number surges. Kudlow said there are only "hotspots" of COVID-19 which can be dealt with by federal health officials on a case-by-case basis. In regards to a second round of stimulus benefits, Kudlow agreed the $600 extra in unemployment benefits will end after July and that Congress will "almost certainly" present a second stimulus package aimed at helping small businesses and investors.

Kudlow reiterated that all discussion of a second round of stimulus relief is in a stage of "pre-decisional, shall we say rumors," but there are no definitive plans at this point in Washington. The Trump administration and Republican senate leaders have repeatedly expressed opposition to another round of direct deposits to individuals as well as extending the $600 unemployment benefit expansion.

"There's almost certainly going to be package" for economic growth, Larry Kudlow says. "What's in the package I don't want to predict" but says POTUS has publicly talked about a payroll tax holiday, capital gains tax relief and help for some industries hit by #COVID19.

— Squawk Box (@SquawkCNBC) June 22, 2020

"After the July [congressional] recess, there is likely, highly likely - to discuss - in the House, the Senate and the administration new plans for economic growth ... there is almost certainly going to be a package. What's in the package? I don't want to predict," he said.

Kudlow did mention "things the president has talked about publicly" that Trump would like to see in a second stimulus package. Trump wants to hone in on helping small businesses and investment by creating a payroll tax holiday for the workforce and increasing capital gains tax relief, he said.

Kudlow added Trump wants to "unleash the power of private equity" as was suggested in a Sunday Wall Street Journal editorial.

"If you buy something in the next six months you'll be excluded from the capital gains tax," Kudlow said, suggesting one possible portion of another $2 trillion stimulus package.

Kudlow continued listing things Trump would like to see - if Congress puts together a second stimulus package after July.

"He wants to help out with some form of tax relief for restaurants, entertainment, athletic contests, and things of that sort. We want to help out the tourism business which has been hurt very badly and we also want to reward people who are re-employing, that are going back to work. I think that's very important. We're also very concerned about protecting liability insurance in COVID-19 cases for small businesses and everybody and maybe some targeted spending discussions going on between the three major bodies," the White House economic adviser said.

"All of these things are up in the air, these are things the president has said publicly so I'm happy to relay them to you. No decisions have been made."

larry kudlow trump second stimulus
White House economic adviser Larry Kudlow said a second stimulus package will not come until after July and will focus on small businesses and investors. CHIP SOMODEVILLA / Staff/Getty Images