STIMULUS CHECKS

Second stimulus check: why 8 August is likely date for approval of second payment

Why unemployed Americans anxiously waiting for politicians to agree on a second stimulus payment will likely have to wait until 8 August.

Second stimulus check: why 8 August is likely date for approval of second payment

More than 150 million Americans have now received their $1,200 stimulus check as part of the $2.2 trillion CARES Act passed in mid-March to boost the economy amid the coronavirus crisis, with around 35 million still waiting for their payments to arrive.

Many have already spent this money on rent, bills and food and demand is high for a second round of payments. But for that to happen, lawmakers must pass a second bill, something which will not prove to be easy as Democrats and Republicans struggle to agree on a new stimulus plan.

In May, the Democratic-controlled house passed the $3 trillion HEROES Act, which would see eligible out-of-work Americans receive another $1,200 one of stimulus payment (although more people would be eligible this time around, and there would be more money available for dependent children). The bill, however, is unlikely to be passed by the Republican-majority senate, where some party members and U.S. President Donald Trump have hailed it as “dead on arrival” and so far refused to debate it.

Although, Senate Majority Leader Mitch McConnell has not ruled out the possibility of a second round of stimulus funding, with Republicans favoring a more moderate $1 trillion stimulus plan over the Democrat’s $3 trillion proposal.

President Trump, meanwhile, has shown his support for the ‘Explore America’ scheme, under which Americans would receive up to $4,000 in tax credits on domestic travel expenses in a bid to boost the flailing U.S. tourism industry. This, it should be remembered, is not a stimulus check.

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Donald Trump speaks to his supporters during his campaign rally in Tulsa on Saturday.

Why August 8 is likely date for second bill passing

Unemployed Americans anxiously waiting for politicians to agree on a second stimulus bill will likely have to wait until August 8, as that is the last day before the Senate will take a month-long recess until September 8.

If lawmakers near the August recess with no advance on proposals for a second stimulus check, it can be assumed that the matter will likely be shelved until they return to work in September, which will leave many struggling Americans in biting their nails and wondering if the second payment will ever be approved.