Second Stimulus Check: Why Another Payment Is Highly Unlikely Before 2021

Since it has been eight months since the White House and Congress passed the CARES Act, a $2 trillion stimulus package, Americans are eager to find out whether additional aid is on the horizon. While Congress is said to be working on another plan, it's unlikely that Americans will receive aid before the end of the year from any package they do pass. Even though it may take some time before they send out another round of stimulus checks, Democrats and Republicans do seem to agree that additional economic impact payments should be included in another package.

According to the Motley Fool, it's unlikely that Americans will receive another stimulus check before the end of the year. While it is still possible that they could, there are several reasons why eligible individuals could be in for a bit of a wait. The main reason why it's unlikely is simply that Democrats and Republicans still disagree on a variety of issues tied to the next stimulus package. At the moment, the two sides disagree on features such as boosted unemployment, state and local aid, and the size and amount of the package itself.

Although, as previously mentioned, both sides have shared their support for sending out another round of stimulus checks, so they are likely to be included in whatever plan they agree on. Since it could take weeks for lawmakers to agree, and it would take some time for the IRS to send out stimulus checks, eligible Americans should bet on receiving aid in 2021. On Nov. 4, Senate Majority Leader Mitch McConnell said that he wants to enact another stimulus package before the end of the year. In his statement to reporters, the Kentucky senator even noted that the two sides might agree on the amount of aid for local and state governments.

He said, “We need another rescue package. The Senate goes back into session next Monday. Hopefully, the partisan passions that prevented us from doing another rescue package will subside with the election. And I think we need to do it and I think we need to do it before the end of the year." He did not share any specific details on the next proposal. But, the lawmaker added that the next package could include "more for state and local governments," an aspect which would likely receive support from Democrats.