Second Round of Stimulus Checks Could Be Sent as Early as August

Although the possibility of further economic relief, particularly direct payments to Americans, is still under discussion amid lawmakers, the American people could be receiving a second round of stimulus checks as early as August. With nearly all of the stimulus checks passed under the CARES Act having already been distributed and much of the money having already been utilized by those who received payments, a brief glance at the Congressional schedule may offer some clues as to when further economic aid could be headed your way.

Due to Congress not being set to reconvene until Monday, July 20, with members of both the House and Senate currently on a previously scheduled recess, it is unlikely that negotiations will come to a close in time for another round of economic payments to be sent in July. There is, however, hope that such payments could begin making their way to the American people in August. After returning to Capitol Hill, Congress will have 15 days before entering another recess that will last from Aug. 10 until Sept. 7, meaning that lawmakers will most likely make a push to conclude negotiations and pass another relief package by Aug. 7.

Should a relief package be passed that includes a second round of economic impact payments, and should the Treasury Department follow a similar timeline as the one surrounding the CARES Act, payments could then go out within three weeks of the bill being signed by President Donald Trump, Forbes reports. After the CARES Act was passed on March 27, the first stimulus checks under the bill began being distributed on April 15, meaning that there was a 17-day period from when it was approved and when payments were first sent. Based on this timetable, and under the assumption that a new bill is approved prior to Congress' recess, further stimulus checks would be sent before Sept. 1.

Of course, this time frame is not set in stone, and no members of Congress have commented on a timetable for stimulus check disbursement. At this time, there is no guarantee that stimulus checks will even be included in the next relief package, which could potentially be the final one. There are a number of factors that lawmakers will take into consideration when considering whether or not to approve more direct payments to the American people, including the recently released June jobs report, which showed positive signs for the economy. Some lawmakers have suggested that the next package will instead focus on getting Americans back to work, with some suggesting that any payments to Americans could take the form of back to work incentives. The discussion, however, continues to have mixed viewpoints.