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Tuesday, January 26, 2021

Is Stimulus Check Round 2 A Possibility?

The $1,200 payment from the CARES Act in March was the only hope for US citizens who are unemployed or lost business due to COVID-19. Despite disputes and disagreements during Stimulus Check Round 2 negotiations, the Democrats and Republicans want to pass the bill and offer the stimulus benefits to people.

Trump’s approach to the bill has been unreliable and inconsistent. Nonetheless, Nancy Pelosi, House Speaker (Democrat), and Steven Mnuchin, Treasury Secretary (Republic) have been determinedly engaged over stimulus check round 2 negotiations.

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With the Republicans being reluctant, the possibility of the bill to be passed before the election, November 3 is unlikely.

Stimulus Check Round 2
Stimulus Check Round 2

Stimulus Check Round 2 Suggestions From Democrats

Democrats have pushed for individual payments of $1,200, while, each person with dependents or children will be receiving $500 to $1,200.

In a September proposal, Democrats suggested the same checks for adult citizens while lesser checks for minors, in accordance with CARES Act.

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HEROES Act included $3.4 trillion with 1/3rd dedicated for local and state-owned government undergoing financial difficulties. Ultimately, the White House has approved a compromise scheme in order to keep a new incentive before the election campaigns began.

Reactions Of Republicans

The Republicans had been dismissing the HEROES Act under the names of liberal lists or political messaging in expectation of reaching a dead-end. They also criticized the $3 trillion package for local body governments.

With the raging pandemic and unfavorable election polls, the Trump administration has become more interested in approving the stimulus check round 2 benefits.

Mitch McConnell has stated a $1 trillion package bill and being promoted by Republicans in light of a slowing economy.

Republicans have also pushed for a “skinny” proposal that completely eliminates stimulus check round 2.

Stimulus Offers From Trump

Donald Trump has been very less interested in the negotiations of stimulus check round 2. He has taken a step back soon after showing minor interest in facilitating the stimulus package for the citizens of his country. In agreement with the Republicans, Trump has also promoted the idea of “skinny” package. He said this is the best solution keeping in mind the collapsing economy and deficit revenue of the nation.

The trial and experimentation provisions for coronavirus has been a priority for Trump and his administration since the time he contracted CO0VID-19 personally. Nevertheless, Republicans seem little interested in passing the stimulus bill.

When Will Negotiations Restart?

Post-election interest from Republicans is slim due to Biden’s probable win and vice-versa.

Consequently, possibilities for any sort of stimulus can only be expected at the beginning of 2020.

Expected Results

If the political impasse and struggling economy recovers, US citizens may expect extra stimulus funding along with stimulus check round 2. However, there is no hope of receiving a stimulus check round 2 before Christmas.

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