Recent reports suggest that stimulus check 2 worth $1,200 is just around the corner. However, many are skeptical that it won’t arrive until after this year ends.
The first stimulus package was passed nearly 7 months ago. As the economy recovers from the pandemic, millions of people are desperately waiting for the second stimulus bill to pass. Federal agents have also stated the dire need for fiscal influx for the economy to recover.
For the first stimulus package, low-income Americans received a stimulus check worth $1,200. Married couples, who registered together, received $2,400. Meanwhile, dependents received $500. Right after the first stimulus bill was passed, discussions on stimulus check 2 began. However, the stimulus plan negotiations are yet to be finalized. Recently, the November presidential elections became a major distraction from passing the bill.
Bipartisan Support For Stimulus Check 2
There’s strong bipartisan support to pass a second stimulus bill. However, the matter of conflict is regarding the stimulus package and the overall bill.
While stimulus check 2 is sure to reach you, many think that it will not happen this year. It’s because Congress does not have enough time to approve it as of yet. Around mid-December, Congress will adjourn for 2020. Realistically speaking, the payments will begin by January.
Last Monday, Joe Biden released a statement highlighting the urgent need for a stimulus bill. Additionally, President Donal Trump also tweeted asking Congress to make a move fast. He said that the second stimulus package needs to be big and further asked for support from the Democratic Party.
Eric Morrow, a pol-science expert from Tarleton University, said that a stimulus check 2, at this point, will be beneficial for the economy and the political parties. He also added that the coronavirus is still on the rise and people are still losing their jobs. A stimulus package of $1,200 would effectively aid many Americans in this time of crisis.
Democrats And Republicans Disagree On Stimulus Bill Price Tag
The Democratic Party is pushing for a stimulus bill with a price tag of $2.2 trillion. Meanwhile, the Senate Republicans are adamant about a stimulus bill with a price tag of $500 billion. The gap is so huge between the two that a stimulus package anytime soon seems unlikely.
The Republican Party has said that a vaccine for COVID-19 is more reason to flush out $500 billion and not spend trillions of dollars.
Political experts also say that both parties are determined not to compromise since even if the White House will be occupied by House Democrats, the Senate majority is still Republicans.
Things will get more clear in January when new senators will set their foot in Congress. If this is the case, Stimulus Check 2 will be further pushed to February.