Second Stimulus Check: important dates to keep in mind
Americans are getting impatient over the promised stimulus package but there are some dates to keep an eye on as to when a decision might be made over the second check.
Republicans and Democrats remain at odds over a second stimulus check. There has been no movement on any stimulus package but Donald Trump, the president, says there is one coming very soon. It will be generous, he says, and it will be very good for American citizens. Millions of Americans have become unemployed since the start of the coronavirus pandemic in what is the worst crisis of joblessness since the Great Depression. They are struggling financially with the first stimulus check, which was sent out in March, being spent on rent and utilities.
As politicans continue to bicker over what that stimulus package will look like, Americans await news on their futures. Will it come by way of a tax break? Or will the stimulus package focus on small companies and improving the economy via stimulating business? Or will it come via a second stimulus check? Americans are restless with the lack of news but there are three important dates in the near future to keep and eye on when we might see a change to the standstill.
Stimulus check: three important dates
On the 2 July, the latest unemployment numbers will be released. If they improve, the chances of a second stimulus check improves with them. If they don't the Republicans will continue to keep purse strings closed. We explained how stimulus money is generated. Basically, with the government taking out loans my selling bonds, they need to economy to start to improve. If it doesn't the hopes of a second stimulus check diminish.
Mitch McConnell expects negotiations to continue after the summer recess. It ends on 20 July and many expect a flurry of deals, negotiations and activity to take place when Senate returns. The bill proposed by the democrats has already been passed by the House of Representatives and needs to be passed in the Senate first and this is where a deal will happen, if it happens at all. An important part of this whole process is the election in November. Democrats are keen to get this over the line so they can use it during their campaign but Republicans are trying to delay that and make them sweat.
The Senate will recess on 7 August. This really is the key date after the first two. If there is a bill, it will happen on this date. Democrats are keen to get it over the line but Donald Trump and Republicans would also like a new stimulus package to be agreed so they can use it in their election campaign. What it looks like remains to be seen but these three dates are key as the coronavirus pandemic continues to wreak havoc in American's cities and towns and with the economy.