The good news is that the Senate on Monday is late in session after a two-week withdrawal and will begin the debate on whether awill happen and . The bad news is that the process can still take weeks, which means that another incentive payment may be around the corner, but is anything but imminent.
“We’re going back to the session next week and in the coming weeks I’ll be posting a later package in the Senate,” Senate Majority Leader Mitch McConnell said Tuesday. “We are looking at another direct payment.”
“We can ‘t go home without it [new legislation], “Speaker Nancy Pelosi told Bloomberg Television on Thursday, noting that it has been two months since the Democratic House passed its Heroes Act without Senate action.” More people have died. More have gone on unemployment. And more, “Sade Pelosi.” What is the value in [the Republicans’] Waiting For? “
So what kind of timeline are we talking about? We split some critical dates from the Senate’s calendar and used the first stimulus check as a model to estimate a potential window on which the IRS could begin sending a second check.
We also predict what may happen if the Senate cannot meet for a new relief measure before the next withdrawal. This story is often updated with new information.
The Senate has three weeks to make a decision on stimulus control
Today is the last day of a planned senate effort that began on Friday, July 3, which means that Monday, July 20, is the first day session resumed.
“As soon as the Senate returns [from its current break]”We will be sitting on a two-party basis with Republicans and Democrats,” Secretary of the Treasury Secretary Steven Mnuchin told CNBC on July 9. He added that it will be a priority for the next legislation to be adopted between July 20 and the end of the month.
But the Senate then has a new recess from August 7, giving McConnell and his colleagues three working weeks to build, debate, negotiate and pass another stimulus package before the last day of its session.
What happens if the Senate misses its deadline?
Whether or not the Senate passes a new rescue package before its planned August deepening, the Senate will not work past Aug. 7, McConnell said June 30. . “Due, she said on Thursday, “we must have that legislation.”
Why? Because the Senate’s August recess goes from August 10 to September. 7 (Labor Day), which means that it is 32 days from the latest date of the Senate session (August 7) to the first day of the next session (September 8). If there is no bill passed on August 7, it will not be picked up again until then. The session in September runs until September 25.
When could the IRS send a second incentive payment?
It is still possible for the IRS to start sending checks in August, if the House and Senate provide a second round of stimulus checks at the end of July.
For reference, the president signed the CARES law into law on March 27, and the first incentive payments expired less than three weeks later, on April 15.
To speculate, let’s say that a new stimulus act will become law on Friday 7 August. Following the Care Act timeline, the first checks can go through August 26th.
However, it is likely that the IRS can go even faster to send out, because it already has the mechanism in place from the first round, including a tool for humans to and .
Factors such as how many would qualify for a second payment may play a role in slowing or accelerating this timeline.
What’s the last day I could get a second stimulus check?
Even if we do not know anything official – and not until another rescue package is official – we can benefit from the experience of the first stimulus checks as a potential plan.
The IRS will have sent approximately 200 million checks by the time it finishes distributing the first payment. (The total U.S. population is nearly 330 million people, according to the Census Bureau.)
The majority of these were sent in early June, although the IRS said it will continue to pay the final lots until the end of the year. If it exists, it is possible that it does not take that long to send a second round of checks.
What does it take to get a second stimulus check?
For now we are waiting. To get a second check, the proposed rescue package would have to pass both the House and the Senate before a signature from the president. Only then could it take effect.
After that, the IRS now has a system for organizing and distributing these controls. But it can still be weeks more before you get a payment.
If you are still waiting for the first round of coronavirus payments, you can do so, learn and find possible .
Here are even more resources aboutand , , and and how to do .