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Friday, January 15, 2021

The Possible Timeline of the Stimulus Check 2

Congress is on the verge of bringing out stimulus check 2, close to 7 months after the first stimulus check was signed. It is quite an exciting bit of news to the public since they have been eagerly waiting for a stimulus check that would alleviate their situation. As reported in the afternoon on Thursday, most of the legislators have been working on ironing out the details on the economic relief package.

What Could be the Possible Timeline of the Stimulus Check 2?

Still, one of the important things for the ball to start rolling is for both President Trump, and Congress to approve its validity. Currently, sources believe that Friday midnight will be considered to be the deadline for delivering the relief bill, along with the government-wide funding bill of $1.4 trillion. This will be sent out to the President because the current government bill will expire on Friday. But legislators are also doubtful if they would be able to do everything as stipulated. Precisely why they have been trying for another temporary bill so that negotiations may run well into the weekend. 

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When the CARES Act was sent out, the legislation was passed on the 27th of March, and the first checks were sent out on the 14th of April. While that does seem like a delay of 10 odd days, we need to remember that the IRS has already worked towards ensuring the efficiency of the process. So, the stimulus checks might start getting sent much faster.  

Steven Mnuchin, the Treasury Secretary did mention back in August that there was a possibility that the stimulus check 2 would be sent out within a week. But, one needs to keep in mind that nothing will come to fruition unless Congress signs up on it. 

 

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