Treasury Secretary Steve Mnuchin and White House chief of staff Mark Meadows at the US Capitol amid July’s stimulus package negotiations. | Bill Clark/CQ-Roll Call, Inc./Getty Images

Treasury Secretary Steve Mnuchin says the GOP is angling to reduce enhanced unemployment insurance to $200 a week.

With time running out to pass another coronavirus stimulus package, Treasury Secretary Steve Mnuchin said on Sunday that Republicans are now prepared to unveil their long-awaited coronavirus relief plan — and that it would include another round of $1,200 stimulus checks as well as a smaller version of the enhanced unemployment insurance that has been credited with helping to keep the US economy afloat.

Democrats put forward their stimulus plan earlier in the year, with the Democratic-controlled House of Representatives passing the $3 trillion HEROES Act in May, but Republicans have struggled to answer it with legislation of their