Has Congress Reached An Agreement On The Second Stimulus Package

While Treasury Secretary Steven Mnuchin and House spokeswoman Nancy Pelosi have narrowed their differences, negotiations are still deadlocked until October 26. Some of these are related to differences of opinion on other elements of the package, including a national testing and traceability programme for COVID-19. “This is not a stimulus package. It`s a discharge law. And that`s something for the next three or four months to help the poorest,” Senator Bill Cassidy, a Louisiana Republican, said Sunday on Fox News. “There may be a stimulation check, but it`s part of another law.” The good news is that help will probably come twice. The bad news is that it may be some time before individuals get the $1,200 stimulation control, if they arrive. If a stimulus package is reached before January 20, an agreement will be reached and the current House of Representatives and Senate will vote before the new Congress meets in January. If Trump signed the bailout, aid would likely expire in the coming weeks, with some groups receiving financial assistance before the end of 2020. Please remember that, given that there is still a lot of debate about the second stimulus package and a lot of things are in the air, some of these answers involve speculation. If negotiators agree on a stimulus package, it will fail either in the House of Representatives or in the Senate: in this situation, Democrats and Republicans could advance their own proposals, which could happen in their majority chambers, but which fail (or are not taken into account) by the other. In that case, Congress could try again after Biden is sworn in as president.

In the months following the adoption of the first stimulus package, more than 160 million COVID-19 stimulus checks were issued to U.S. households. The cheques were part of the $2 trillion Financial Relief and Economic Relief Act, known as the CARES Act. Biden called the $908 billion proposal a “down payment” for a larger future stimulus package and noted that the “immediately necessary” discharge for unemployed Americans, people facing deportation and those fighting for a mortgage has already been dealt with in the Heroes Act. $3 trillion passed on May 15. which the House of Representatives revised in October to $2.2 trillion.

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