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Monday, October 25, 2021

The Oval Office has Proposed a Stimulus Check 2 For $600

Congress has been working overtime to ensure a stimulus check 2 gets passed- for there are millions of citizens who would lose out on their jobless benefits by the end of the month. The legislators in Washington have been rocked in a deadlock about one more stimulus package. Yet, the previous week did see the lawmakers making concessions in the very hope that they would be able to pass a bill before they left for the holidays. 

Both the leaders in the Senate and the House have restarted discussions- where the best chance for a stimulus check 2 seems to be in it being added to the bill. But, since the Senate and the House are scheduled to leave the town by the end of the week, the ball needs to be rolling faster. A deal seems to be present at the end of the tunnel, and it needs to be so- else 12 million citizens would be losing out on their benefits. 

Is the Solution another Stimulus Check 2?

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Last Tuesday saw the Treasury Secretary Steven Mnuchin propose a $916 billion relief bill to Nancy Pelosi. Interestingly, the amount allotted to this bill was just a bit more than the bipartisan proposal last week. And while Pelosi did find the proposal to be ‘progressive’, she didn’t want this proposal to obstruct any progress that the bipartisan talks have undergone. Schumer, the Senate Democratic Leader, along with Nancy Pelosi have already rejected the proposal from the White House that includes a reduction in the funding of the unemployment benefits from $180 billion to about $40 billion. 

On the other hand, Mitch McConnell has already proposed a smaller, and much separate $500 billion deal that would focus on keeping businesses stay above ground- whilst limiting the legal exposure they would have. 

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