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Saturday, December 5, 2020

Stimulus Check Round 2 Update: Speaker Pelosi Says The Deal Might Be Delayed

On Thursday, Speaker Pelosi told media sources that the White House and the House Democrats have almost reached a stimulus package deal. However, she cautioned people saying that passing the stimulus check round 2 in Congress might take longer than many expect. 

She also added that there are certain issues that still need to be resolved between the House Democrats and the Trump administration. Some of the tension-filled topics are funds to local and state government, funding US elections and Census System, and protecting businesses. 

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The stimulus check round 2 negotiations has been going on for months now. Millions of American citizens and businesses have already indicated that the first stimulus bill money has run out. Due to the consistent non-negotiations, a second stimulus bill has become close to impossible till now. The stimulus package will aid individuals and businesses affected by the COVID-19 pandemic. 

Further talking on the issue, Speaker Pelosi said that she is still positive that they can pass the stimulus check round 2 before the November presidential elections. 

Republican Senators Strongly Against High Price Tag Stimulus Bills

Stimulus Check Round 2
Stimulus Check Round 2

One of the major disagreements between House Democrats and the Republican senators is regarding the price tag of stimulus packages. Both the stimulus packages proposed by the House Democrats and the Trump administration are close to $2 trillion. The GOP senators are not happy about the massive amount of spending. 

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However, Marco Rubio, a GOP senator from Florida, indicated that he will support any stimulus check round 2 package that comes to their floor as a prolonged delay on this front would lead to further economic damages. 

Speaker Pelosi indicated that Trump’s constant shifts have further delayed the stimulus bill negotiations. In a viral tweet earlier, the President claimed that he has ordered all his representatives to stop any stimulus bill negotiations. Hours later, he tweeted again saying that he is in support of going big on the stimulus check round 2. 

According to sources, another factor in the disagreements is the language used in the stimulus bills. According to House Democrats, the language of the stimulus package proposed by the White House gives all the power to the President and instead of making funds mandatory, the bill allows the president to withhold or direct funds at his wish. 

Stimulus Check Round 2 After November Elections?

If the stimulus check round 2 gets delayed until after the November presidential elections, it will be heavily influenced by whoever wins the race. One thing to note is that the Senate and the Presidency will change hands only in January next year. 

Several economists, including Jerome Powell, the Federal Reserve Chair, spoke out against the delayed stimulus package. They further warned the lawmakers that any more delay would mean the American economy’s doom.

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