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A new stimulus bill before the election? Here is the last day it must go



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

Angela Lang / CNET

The November 3 election fast approaching, with early voting begins in many states. But this means closing the window for Republican and Democratic lawmakers to negotiate another stimulus bill, if they want to send one out second round of stimulus checks to the voters before they highlight their choices. We have looked at how much time is left and some possible dates that a bill can pass.

Last week, the House of Representatives said it would extend its session until an agreement is reached. Jerome Powell, chairman of the Federal Reserve, reminded Congress on Wednesday that there are about 11 million people out of work due to coronavirus. But it is still uncertain how Supreme Court Judge Ruth Bader Ginsberg’s death and the upcoming presidential debates could shift the focus of negotiators away from another aid package.

Although the next steps are unknown, we have identified at least five possible scenarios that could still play out and the last chance for a bill to go before the US election. And here are the six most important things to know about stimulus controls. This story is updated frequently.

The last date that a bill could pass before November 3? Some options

The Senate is scheduled to adjourn after the election following the current session, which ends on October 9. If nothing changes, it is the last day that a bill must be cleared Senate – but that does not mean that it is the last day that a bill can pass.

For example, the House is prepared to postpone the start of the next break, which was originally planned for October 2, until an agreement is reached. If the bill passes the Senate on October 9, the House can approve it after that date. And if negotiators reach an agreement, Senate Majority Leader Mitch McConnell could also force the Senate to stay longer in the session or come back early to vote on a proposal.

Still, a bill is less likely to pass days before the election because candidates – including President Donald Trump, who must sign the bill – are completing their campaigns.

Possible timelines for when a stimulus bill can pass

The Senate votes

The voices of the house

The President signs

September 30

1 October

October 2

October 9

October 12

October 13

October 16

19 October

October 20

October 23

October 26

October 27

The dates above are based on congressional voting schedules and the potential of both chambers to delay their planned withdrawals. Based on remarks by Treasury Secretary Steven Mnuchin, the IRS could potentially start sending checks before November 3rd if a new bill is adopted no later than the third week of October. (Here is what to know about eligibility.)

After breaking up in August, the formal talks for the overall bill have not yet started again. The total cost of the bill and how the money would be used is the crux of the disagreement. The White House has indicated that it could go up to $ 1.5 trillion, while the Democrats have come down from their original proposal of $ 3 trillion to $ 2.2 trillion, so there has been gradual progress. (The failed Republican lean bill was estimated at between $ 300 billion and $ 650 billion.)






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Congress could instead approve stand-alone bills

Instead of working on a comprehensive bill, some in Washington say the way to break the deadlock is to send a series of smaller bills targeting specific areas. There is growing support among the House Democrats to now present a smaller bill and then continue to prepare other issues, Politico reported.

Pelosi has constantly opposed smaller businesses and remains intended to handle a large-scale bill.

The Senate made an attempt with its delivery immediate relief to America’s families, schools and small business law, but it did not have enough votes to continue. The house also presented a piecemeal bill that tried to provide funding to the US Postal Service before one choice where many are likely to be vote by mail.

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

Sarah Tew / CNET

The president could take executive action

After the talks originally collapsed on August 7, Trump took unilateral action by signing one executive order and three memoranda on August 8th. It is possible that more executive measures will come.

At a news conference on Sept. 4, Trump said the administration could consider another executive measure to release $ 300 billion in unused stimulus aid to Americans if Congress does not vote to redirect those funds. However, there has been no development since.

Trump’s current COVID-19 liberation measures slows down evictions, extension unemployment benefits to a lesser extent and defer payroll taxes until next year.

    break-the-piggy-bank-stimulus-check-cash-money-saving-debt-personal-financing-032

Democrats and Republicans have not agreed on how much aid should be included in the stimulus package.

Sarah Tew / CNET

Negotiators can postpone the stimulus package until after the election

With the November 3 election less than two months away, the atmosphere in Washington could be too politically charged to cope with more economic relief, and leaders may want to see what happens after the election.

With 470 seats in the US Congress – 35 Senate seats and all 435 seats – up for election in November, any majority change to the House or Senate and to the Presidency itself could shift the likelihood of certain laws being passed in one way or another.

The government’s response to the coronavirus pandemic is already playing a major role in the campaign at all levels. If an agreement is not reached soon, the topic of a relief package may well come up during town halls or debates in the coming weeks.

If the talks fail, the legislators cannot take any further action

We believe that this result is less likely, but it is not out of the question. Unemployment remains at astonishingly high levels and a housing crisis weather at the horizon. Failure to take action for a relief package, individual bills or executive orders could potentially cause the economy to plummet. a deeper recession, as economists say, the damage already done begins to reflect the great recession of the late 2000s.

For more information, here is how soon you can get your second stimulus check and what to know about HEALS, CARES and Heroes stimulus proposals that can help inform a final package.




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