Coronavirus

Second stimulus check: Is there a deadline to approve a second payment?

Republicans don’t seem to want a second round of stimulus payments and they are worried about the costs of sending more checks, even Democrats question the strategy.

Second stimulus check: Is there a deadline to approve a second payment?

Back in May, a reporter asked President Donald Trump about the possibilities of passing a new bill that among other measures it will include a second round of stimulus payment to many Americans suffering amid the coronavirus pandemic. Trump gave an optimistic answer about a second round of payments.

"I think there will be a second payment to help Americans move on. We will give them money towards the end of the outbreak. Right now we are focusing on reopening the country,” said Trump.

It seems that the President is warming up to the idea, most Democrats are pushing for the HEROES Act to be approved in the Senate, but the Republicans are not sold on the idea because they are worried about the costs of sending out more checks.

Democrats and Republicans have different opinions

The CARES Act was approved towards the end of March and the IRS started sending the $1,200 payment in mid-April to millions of Americans who lost their job amid the outbreak. But that money is probably gone by now as many states are reopening the economy in a four-phased plan established by the Governors.

Now Republicans and Democrats are fighting to figure out the best way to approve a bill that among other measures it will aid the struggling Americans. The Federal Reserve estimates the unemployment rate could jump up to 30%.

The Republican-controlled Senate and President Donald Trump called the HEROES Act “dead on arrival” and they have put on “pause” the idea of a second payment. Instead of another round of stimulus checks, Republicans have talked about cutting payroll taxes. Such a move would leave some Americans with bigger pay-checks, but critics point out that it would fail to help those out of work and hardest hit by the downturn.

Democrats have talked about instead of sending another round of stimulus checks, that beefing up Unemployment benefits would deliver more relief during the outbreak. As of now the extra $600 that people are receiving on top of their unemployment benefits is set to expire at the end of July.

Democrats and Republicans will sit down to discuss a new bill this month. As of now there possibilities of a second payment are very low but it is expected that since it is an election year, towards the end Trump will send a second round of payments the people in America.