With COVID-19 continuing, the number of unemployed Americans has never been higher. While millions of citizens and business owners wait for the second round of stimulus checks, the lawmakers in Washington DC are still to reach a deal. However, recent reports suggest that the second stimulus package talks have resumed between the Democratic Party and the Republican Party. The only question is: will they be able to pass a stimulus plan before the House goes into recess?
There have been several stimulus bills introduced in the House, however, none could garner enough support. These coronavirus relief bills ranged from $3 trillion to $1 trillion, and lower.
As per schedule, all the lawmakers in Washington will go on recess next week to campaign for the upcoming presidential elections. This means that they have very little time to make a decision. If this stimulus package fails, it would mean that everyone will have to wait till after the election results, which will be a very long time.
Republicans Don’t Express Much Optimism Over Passing Democrats’ Stimulus Package
A Republican senator from Missouri, Roy Blunt, said that he is not very optimistic about a positive outcome. He further added that passing bills requires many more developments than there is right now. He also said that, even though it is difficult, the appropriate elements to pass a bill are present.
Taking attention and time away from stimulus package talks are the Tuesday presidential debate and Ruth Bader Ginsburg’s replacement.
If we look at the schedule, the changes will not be in session on Monday to observe Yom Kippur. The Senate won’t start until Tuesday. Moreover, while the House will stay till Friday, the Senate is not scheduled to be in session after Thursday.
Government Shutdown Averted
While the government shutdown has been averted after a 359-57 bill was passed to fund the government till 11th December by the House. The bill has been through the Senate as well. It will now be approved by the President on Wednesday.
However, the falling US economy has driven the stock market investors and millions of Americans into nervous outbreaks as the first stimulus package of $1.7 trillion runs out. Several Airline companies have stated that they will be forced to lay off a substantial number of employees by October if they don’t receive coronavirus relief aid. Under the first round of stimulus checks, Airlines receive a total of $32 billion.
Moreover, Trump’s Jobless Benefit Payment is also coming to an end.
After reports of the new stimulus package by Democrats, there has been no significant update in the same.
Representative Kevin Brady told media sources that negotiations would be useless since Nancy Pelosi is not willing to compromise and set a deal. Speaker Pelosi has said that she’s looking forward to restarting negotiations.
As per sources, the White House is willing to agree to a $1.3 trillion stimulus package.