Stimulus Check 2 Confirmed by Mitch McConnell? What You Need to Know

Stimulus Check 2 Confirmed by Mitch McConnell? What You Need to Know

Senate Majority Leader Mitch McConnell has decided on a second stimulus package. Yesterday, on the day that negotiations on Stimulus Check 2 were first made public, the senator said his plans for the next economic impact package will include direct payments.

"Speaking of building on what worked in the Cares Act, we want to make another round of direct payments that will help American families be the driving force behind our nation's rebuilding," said Rep. McConnell (via ABC 11)

. Republican leaders have previously expressed some form of support for a second round of stimulus payments, but with the Senate back in session this week, it appears that the debate has begun in earnest.

Until a bill is agreed upon and passed, there is still no guarantee that the American people will receive more direct payments. However, now that lawmakers have introduced the stimulus bill and recognize the continuing impact of the coronavirus pandemic, the date of the second stimulus check may be of interest.

"Unfortunately, this is not over," Senator McConnell said in introducing the new stimulus package. The senator also urged Americans to wear masks and follow social distancing guidelines.

In addition to Stimulus Check 2, the Senate stimulus package could include funds to support schools, small businesses, and coronavirus testing. The budding proposal appears to target a $1 trillion budget, but the Heroes Act passed by the House in May suggests a $3 trillion stimulus package is needed.

McConnell calls $1 trillion a "starting point," but a smaller budget could mean fewer Americans will be able to receive stimulus checks2. President Trump has called his next direct payment plan "very generous," but Senator McConnell has proposed a lower income threshold ($40,000 to be exact).

The President has also requested that a payroll tax cut be included in the next stimulus package. He is calling for the repeal of the 15.3% payroll tax, which experts told the Associated Press would cost $600 billion just for this tax alone.

This could be an obstacle to getting Stimulus Check 2 passed. Senator Chuck Grassley (R-Iowa) has said he prefers direct payments to small tax cuts deducted from workers' paychecks, and he may not be the only Republican to oppose the tax cut.

Indeed, tax cuts could create a major rift in the president's party. Tax cuts will not help unemployed Americans and will further increase debt as the government plans its next stimulus package.

Finding a middle ground may not be achievable by the end of the month, the loose deadline Treasury Secretary Steven Mnuchin called for last week.

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