Stimulus Check 2 Is it suspicious? Here is where each side stands

Stimulus Check 2 Is it suspicious? Here is where each side stands

Stimulus negotiations between Democrats and the White House have been suspended since Friday, and with neither side committed to resuming negotiations, the American people may have to wait longer than expected for their stimulus checks.

At issue are ongoing federal unemployment benefits, which expired on July 31, and the total cost of the bailout.

Treasury Secretary Steven Mnuchin on Wednesday urged Democrats to resume talks after the administration said earlier this week it was willing to put more money into the bailout (a move that could face pushback from Senate Republicans).

Meanwhile, House Speaker Nancy Pelosi (D-N.Y.) said the two sides are "miles apart" in their agreement.

"There is a gap because we don't share our values," Speaker Pelosi told MSNBC.

Neither side has offered a timetable for continuing negotiations. Members of both the House and Senate are out of Washington until early September and may return only for a vote. However, if the bill passes, the Check 2 date for the stimulus package may be a week away.

Since all parties agree on the need for Stimulus Check 2, it is likely that eligible Americans will receive a second $1,200 payment if a larger bailout bill is passed.

There is some variation among proposals as to who would be eligible for the second round of stimulus (e.g., adult dependents), but there is widespread support for a second round of direct payments.

There are also calculators that can be used to determine eligibility for Stimulus Check 2.

However, the continuation of federal unemployment benefits is less clear. House Democrats want to continue the program at $600 per week for the time being, while several Senate Republican proposals would immediately reduce the weekly amount and phase out the enhanced federal payments over two to four months, with states making up the shortfall.

Over the weekend, President Trump signed an executive order to continue benefits at $400 per week for the rest of the year, but it is unclear how this will work in practice.

Continued spending on federal subsidies has been a particular sticking point in the stimulus negotiations.

Categories