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Stimulus package conversations are restarted. What it could mean for a new check



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Congress has a handful of days to reach an agreement before breaking for the election.

Angela Lang / CNET

Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi have each announced that they will resume negotiations in order to survive a new economic aid packagewho could authorize second round of stimulus testing and other benefits for millions of Americans who qualify.

“I’ve spoken to Speaker Pelosi probably 15 or 20 times in the past few days … and we’ve agreed to continue discussing the CARES bill,” Mnuchin said Thursday.

“I’m hoping for a deal,” Pelosi said on CNN on Sunday. “I’d rather have a deal to put money in people’s pockets than have a rhetorical argument.”

House Democrats reportedly are preparing a new proposal with around $ 2.4 trillion in aid, which is about $ 1 trillion less than that Heroes Act proposed in May. The new bill would reintroduce improved unemployment benefits. Direct payments to eligible Americans, The Paycheck Protection Program, for small business loan financing and airline support, could be ready to vote by October 2, The Hill said.

Time is running out to pass laws before Election on November 3rd. Given this new information, we pulled some data and identified possible scenarios that could have implications for the next stimulus package. Here are the The most important thing to know about stimulus checks. We update this story regularly.

With the talks restarted, a new package could be squeaking before November 3rd

The clock is ticking on both sides of the aisle to agree another stimulus package before election day. The last day any new law could be passed is still in the air as the schedules to be broken after this current session can be extended by Senate / House leaders.

Possible deadlines for when a stimulus bill could expire

Senate votes

House votes

President signs

October 2nd

October 3

4th of October

9th October

October 13 (October 12 is Columbus Day)

October 14th

October, 16th

October 19th

the 20th of October

23rd October

October 26th

October 27

If nothing changes, October 9 – the last day of the Senate session – will be the last time a bill needs to vacate the upper chamber, but it is still not the last day a bill could be passed. For example, the House plans to postpone the start of its next hiatus, which was originally scheduled for October 2nd, until an agreement is reached. If the bill is passed by the Senate on or by October 9, the House could pass it after that date. And if the negotiators reach an agreement, Senate Majority Leader Mitch McConnell could also force the Senate to stay longer in session or come back early to vote on a proposal.

Still, a bill is less likely to be passed days before the election, as presidential candidates – President Donald Trump, who has to sign the law, and Democratic candidate Joe Biden – complete their election campaigns.


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Next stimulus checks: what to expect


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Congress could focus on small, standalone bills

If the Senate rejects the House’s new smaller bill, some in Washington will say the way to break the stalemate is to pass a series of even tighter bills targeting specific areas – like the entertainment and aviation industries – but that is less likely before the election.

The Senate attempted emergency aid to America’s families, schools, and small businesses, but the Senate proposal failed. The house also submitted a piece invoice that should be made available Funding to the US Postal Service before a choice which many Americans who are wary of a personal vote during a pandemic are likely to be Vote by email.

The President could take additional executive measures

After talks originally collapsed on Aug. 7, Trump signed an implementing regulation and three memoranda on the 8th of August. It is possible that further executive action will be imminent if that final pre-election negotiation attempt fails, though there was no development after Trump first suggested that his administration might consider another executive action to bypass Congress.

Trump’s current address for COVID-19 relief efforts Slowing down evictions, extend Unemployment benefits to a lesser extent and Postpone wage taxes until next year.

    Cash that runs out of money, change the wallet empty

The end of all talks would be devastating to millions of Americans.

Sarah Tew / CNET

The negotiators could postpone the stimulus package if talks stall

In the upcoming November 3 election weeks, the atmosphere in Washington may be too political to pass more economic relief laws, and leaders may want to see what happens in the post-election period choice on November 3 and before the inauguration of the President on January 20, 2021.

With 470 seats in the U.S. Congress – 35 seats in the Senate and all 435 seats in the House of Representatives – voting in November, any change in the majority in the House or Senate and the presidency shifts the likelihood of certain laws being passed that way or so.

    Breaking-the-Piggy-Bank-Stimulus-Check-Cash-Money-Savings-Debt-Personal-Finance-032

Democrats and Republicans disagreed on how much aid should be included in the stimulus package.

Sarah Tew / CNET

The government’s response to the coronavirus pandemic is already a big part of the campaign. Unless an agreement is reached soon, the issue of an aid package is likely to surface in the coming weeks during town halls and debates between Trump and Biden.

If the talks fail again, lawmakers could not take any action

We think this outcome is less likely, but it’s not out of the realm of possibility. Unemployment remains at an astonishingly high level and a Housing crisis looms at the horizon. Failure to take action on an aid package, individual bills or executive orders could potentially cause the economy to falter a deeper recessionAs economists say, the damage already done is starting to mirror the great recession of the late 2000s.

More information can be found here How soon could you get your second stimulus check? and what to know about that HEALINGS, CARES and Heroes Stimulus package proposals that could help create a final package.


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