New Stimulus Check Legislation Deal Targeted for End of First Week of August

There is still a sharp divide between Republicans and Democrats over the hotly-debated second stimulus package, however, there is some encouraging news. As Bloomberg reports, Treasury Secretary Steven Mnuchin claims the White House and Democrats are looking to strike a deal before the end of the week.

"We're not at the point of being close to a deal, but we did try to agree to set a timeline," Mnuchin said. "We're going to try to reach an overall agreement, if we can get one, by the end of this week — so that legislation could then pass next week." Pelosi also told PBS on Tuesday that she also hoped a deal could be reached this week, with legislation drafted and passed next week. "We have to have an agreement," she insisted. "And we will have an agreement."

Both Mnuchin and White House Chief of Staff Mark Meadows, who is representing the Trump administration, said Republicans would also agree to another eviction moratorium through the end of the year. They've also reportedly made offers on supplemental unemployment insurance, which has been one of the Democrats' major sticking points.

Still, Senate Minority Leader Chuck Schumer has also spoken positively about the process. "They have made some concessions which we appreciated," he explained. "We made some concessions which they appreciated." Though he was quick to add that there "are still far away on a lot of issues." Meadows, meanwhile, claimed that the concessions made by the White House were "far more substantial than the concessions that had been made by the Democrats."

Similarly, Senate Majority Leader Mitch McConnell shared in Schumer's optimism. "Wherever this thing settles between the president of the United States and his team, that have to sign it into law, and the Democrat not insignificant minority in the Senate and majority in the House, is something I'm prepared to support even if I have some problems with certain parts of it," he told reporters on Tuesday. Out of the few areas of consensus, funding for the Paycheck Protection Program and another one-time payment of $1,200 have found support, though the same can't be said budget-crunched state and local governments.

Despite the hopeful outlet, several lawmakers have openly admitted their skepticism that the issues would be resolve by Friday. Assuming this all does happen, a vote likely wouldn't be taken by the House and Senate until next week, meaning foregoing their planned recess — which some in Congress have already committed to if need be.