Agreement On Stimulus Check

In the eight months since the CARES Act was passed in March, both sides have maintained their respective positions, Democrats are in favor of a big bill with a second stimulus check, and Republicans welcome a smaller aid package as an emergency solution until the first mass coronavirus vaccines are administered in mid-2021. (Here`s what could happen if a new law is passed without stimulus control.) The main cause of the impasse between the two sides was their lack of willingness to move around in these numbers. However, in recent weeks, the two sides have moved closer to an agreement by revising their budget proposals. If they make it happen – and President Donald Trump is also insisting that this happen – individuals would likely see a similar payment in the first round that ended in March. This means that most people would receive a check for $1200. McConnell “will likely come up again with a plan he advanced in October. The McConnell plan was $500 billion and included additional protection payment funds,” Brian Gardner, stifel`s chief washington policy strategist, noted in a research note. House spokeswoman Nancy Pelosi rejected the $US 1.8 billion offer, arguing that she had not done enough on provisions such as testing and tracing, as well as funding for child care. Treasury Secretary Steven Mnuchin said the government`s priority was to use $300 billion from the coronavirus Aid, Relief and Economic Security or CARES, Act, to fund the $130 billion paycheck protection program and help the struggling aviation industry. But the big question now is, if an agreement is reached, when would the payments be received? Because, it seemed, the window to get money into Americans` bank accounts before the end of 2020 could be about to close. Fortune said that “if the last round is a clue, the first of the checks will be deposited within two weeks of the legislation being passed.” Meanwhile, Meadows said the Republican offer could be increased by $300 billion, revealing that President Donald Trump was willing to legally sign a $1.3 trillion package (a package that would not include provision for a second round of stimulus payments).

Pelosi, however, claimed that this figure was still too low. If a bill is passed that involves a direct payment, we think about how quickly the IRS could send a second stimulus check. The availability of a vaccine would dramatically increase attitudes, incomes and other measures of economic growth and reduce the need for a massive stimulus package, some GOP lawmakers say. . . .

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