Any day now the Republicans and Democrats are going to get it together and get a second round of economic stimulus checks out to Americans who are desperately in need of a cash infusion.
Any day now.
Right?
Well, it’s complicated.
The sides agree that Americans need a second round of stimulus as the country continues to try to work its way through the coronavirus pandemic, but they are not finding their way to an agreement with Democrats reportedly featuring a relief package with a $2.2 trillion price tag and Republicans featuring a $1.8 trillion deal.
If they do get it done — and President Donald Trump is also pushing for it to happen — individuals would likely see a payout similar to the first round that went out in March. That means most folks would get a $1,200 check.
And this week seemed to trend more toward the sides nearing a deal. In fact, that’s what they are saying, publicly, now.
“I think we are about there,” House Speaker Nancy Pelosi said Thursday after meeting with Treasury Secretary Steven Mnuchin, according to Fortune.
The big question now, though, is if an agreement is reached, when would the payments be received? Because, it has seemed, the window to get money into Americans' bank accounts before the end of 2020 could be close to closing. Fortune reported that, “if the last go-round is any indication, the first of the checks would start to be deposited within two weeks of the legislation passing.”
So, if they agreed on a package today, it’s unlikely folks would get money until after the election. Of course, we’ve seemed close before, too. In the months following March’s first round of payments it seemed all but a given that another round would be agreed on and sent out by now. But the Republicans and Democrats reached an impasse in negotiating a deal in August and it has now lingered into late-October. So, it’s altogether possible a deal doesn’t get done at all.
While most of the talk during these negotiations has featured a base that would see individuals receive $1,200 payments like the first round, Cnet.com pointed out that provisions around bonuses paid to those with dependents could mean payments much higher than $1,200.
But, it said, there are scenarios, too, in which an individual might receive a smaller check this time around.
The site reported that “economists in the highest roles of government have stressed the need to for stimulus aid.”
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October 24, 2020 at 07:04PM
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Second stimulus check: Is an agreement to pay Americans near? ‘I think we are about there,' Pelosi says - PennLive
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