Talk of a second round of stimulus checks may be making headlines, but the discussions are far away from being signed into law. With multiple proposals still on the table, and lawmakers reportedly in a “pre-decisional” phase, Americans have been left wondering when, exactly, they can expect a final decision to be made.
At this time, Congress has not nailed down a date to vote on another relief package, which may or may not include economic impact payments, though it is largely believed that such a decision would be made sometime in July. Such a belief was confirmed Friday by Senate Majority Leader Mitch McConnell, who said that “if there’s another [stimulus package], it will come together in July,” according to CNET. McConnell said that lawmakers are factoring in a number of things to determine if another relief package is needed, including the economy and whether or not it is coming back as quickly as hoped. The July 2 release of the June jobs report will likely be a major factor in determining if another round of payments should be included in a relief package. He added that he has long “predicted we’d make that decision in July and I’ll continue to say that today.”
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In June, The Wall Street Journal reported that White House officials also anticipated that the executive branch will work on its own proposal through July. At around that same time, CNBC reported that in determining the need for another relief package, White House and Republican leaders wanted to see how much money provided under previous relief packages had been spent. At the time, the outlet reported that “much of previous stimulus money remains unspent.”
In late March, President Donald Trump signed the first relief package, the CARES Act, into law. Along with providing aide to small businesses and local governments, the bill saw direct payments sent to eligible citizens. Those payments ranged from $1,200 for singles to $2,400 to those who file joint tax returns, with the money phasing out at certain income levels. Although most of those payments have already been received, discussion has continued regarding whether or not further direct payments to Americans is necessary.
In testimony given to the Senate earlier this month, Treasury Secretary Steven Mnuchin told lawmakers that the nation’s economy will likely need more help. Mnuchin said that “we’re going to seriously look at whether we want to do more direct money to stimulate the economy,” adding that “this is all going to be about getting people back to work.”
