With most Americans having already received their first economic impact payment, discussions surrounding the possibility of a second round of stimulus checks are being amplified. Over the past several days, numerous lawmakers, including President Donald Trump himself, have spoken out regarding the possibility of providing further financial relief for Americans amid the coronavirus pandemic, and there are three key dates that could determine whether or not another round of stimulus checks will be handed out.
According to Forbes, the first of those dates is Thursday, July 2, which is when the Bureau of Labor Statistics (BLS) will release June’s jobs report. This report will help gauge the strength of the economy, which has suffered greatly amid the pandemic due to stay-at-home orders, which likewise prompted record-high unemployment rates. It is largely believed that June’s jobs report will be a major factor in determining if further aid is needed to support both Americans and the economy. Should the report show a decline in the unemployment rate, as was the case for May’s jobs report, the possibility of more stimulus checks will be less likely. However, if unemployment rates rise, the chance that Congress will provide further relief is greater.
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Americans should also keep their eyes on Monday, July 20, which is when Congress and the Senate will return from a recess that begins on July 3. It is expected that upon their return, discussions and negotiations on another stimulus package will begin, Senate Majority Leader Mitch McConnell has said. During this period of time, Americans can likely expect “a flurry of activity, additional proposals, and many headlines on negotiating stances.”
The final and perhaps the most important, date to keep in mind is Friday, Aug. 7. This is the date on which the House and Senate are scheduled to recess for a full month. They will return in mid-September, meaning that there will be just two months until the elections in November, at which time other matters could be on the table. It is expected that there will be a major push for the Senate to negotiate and pass a bill by this date. It is also likely that they will deal with the HEROES Act, which has already been passed by the House. The act seeks to provide another round of stimulus checks but has proven to be highly controversial. If a relief package is not passed by this date, the next relief bill will not materialize until Sept. 8. Forbes notes, however, that Congress could possibly choose not to adjourn.
At this time, a number of different bills have been proposed, some including a second round of stimulus checks while others do not. Trump has stated his interest in the second round of payments, though lawmakers are currently said to be in a “pre-decisional” phase.
