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Friday, November 27, 2020

Stimulus Check Round 2 Status Update

The second round of financial relief by Congress is eagerly needed and awaited by millions in America who are struggling with the blues of the COVID-19 pandemic. The $1,200 stimulus check round 2 along with enhanced benefits of federal unemployment schemes is included in these plans.

It has been seven whole months into the entire pandemic situation and getting to a common ground of negotiation by both the parties seems pretty difficult. Pelosi, however, claimed recently that she along with Steven Mnuchin the treasury secretary is very close to a total wrap-up of the whole stimulus check situation very soon, as recorded by Bloomberg News. even though The President had withheld the negotiation procedures for a while recently it has again started since he changed his stand on the matter. 

Turmoil around the stimulus check round 2

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Trump has not only changed his mind, Fox News claims the President wants to go much bigger than the Democrats in this matter and that too before the election starts. He has also voiced his demands for $135 billion for small businesses and airlines aid for $25 billion.

Although all seem eager to get the stimulus check round 2 done before the 3rd November elections, the experienced analysts say the expectations might be a little far fetched. Mnuchin the Treasury Secretary said that given the situation, getting the deal ready before the elections could be difficult. Mitch McConnell the Senate Majority Leader declared that on Wednesday, 21rst October, the Senate will vote on the Republican’s plans on the relief funds due to the pandemic and also deal with the fundings for small scale business programs.

stimulus check round 2
stimulus check round 2

Size of fund amounts of the stimulus package

Previously Pelosi has refused certain White House proposals on the grounds of insufficiency in important fields of funding. Recently, Mnuchin claimed that the administration is laying stress on the distribution of the funds to the areas where it is required on an emergency basis, like the Paycheck Protection Program and the suffering industries of the airlines. Therefore it’s understood that planning of the stimulus package is tricky and will need a lot of discussions and planning. 

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Cindy Allen recently claimed that the ground level situation is extremely severe where people are struggling to meet ends of basic needs like food and electricity supplies. There has been a severe blow on the job market due to the pandemic. People who had received the benefits of the stimulus package in March said that this stimulus bill could be a very good way out in this situation.

Sam Post, who received benefits from the first stimulus package, claimed this kind of dark times were never recorded in history and the second round of stimulus package could bring in a light of hope.

America is eagerly waiting for good news from the authority regarding a good stimulus package from the stimulus check round 2.

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