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Second update of stimulus check: Here the payments can go out



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When will a deal be made for a second stimulus check?

Sarah Tew / CNET

The White House, the Senate and the House of Representatives could find common ground and approve one second stimulus control before the end of July, but when is it soon the IRS could start sending out the payments? After looking at the Senate calendar and using the first stimulus payment as a model, we have an idea of ​​when that window could occur. (Here is the current status of who could qualify.)

What is certain is that the Senate will return from a two-week special on Monday with a plan to discuss the details of another financial aid package. Below we have predicted a potential date that the IRS could send the first round of checks, the last date the Senate must meet to get a new stimulus check and what could happen if the legislation is not passed then. This story is often updated with new information.

The Senate has three weeks to make a decision on stimulus control

The pressure to build agreement on a new rescue proposal is on. After the Senate session begins on July 20, it has 15 working days until August 7 to build, debate, negotiate and pass on another stimulus package before the last day of the session.

“We will have bipartite talks on additional legislation and hope that Congress will pass an additional package by the end of this month,” Treasury Secretary Steven Mnuchin said in prepared remarks to a House committee on July 17.

“We can ‘t go home without it [new legislation]”Speaker Nancy Pelosi countered on Bloomberg Television on July 16, pointing out that the House passed the Hero Act two months ago and the Senate has not taken action.” More people have died. More have gone on unemployment. And more people have been infected. What is the value in [the Republicans’] Waiting For? “

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Congress is expected to begin work soon on a new stimulus bill for coronavirus that could add another $ 1,200 to your wallet.

Angela Lang / CNET

What happens if the Senate misses its deadline?

“Whether the Senate passes a new rescue package before its scheduled August withdrawal, the Senate will not work past August 7,” McConnell said June 30.

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 by August 7, it will not be picked up again until then. The session in September runs until September 25.

The Senate’s timeline for making a decision on stimulus control

date

Senate action

July 20 – August 7

Ongoing. The Senate is not expected to work past August 7.

August 10 – September 7

Augustins urtag.

September 8 – September 25

Ongoing. If the Senate does not approve a bill by August 7, it is the next period that it will need to work on a stimulus package.

28 – 29 September

September urtag.

September 30 – October 9

Ongoing. If the Senate has still not adopted a bill, this is its last chance before the November 3 election.

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 Act 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 first wave of stimulus check, because it already has the mechanism in place from the first round, including a tool for humans to sign up for direct deposit and track their payments.

Factors such as how many would qualify for a payment a second time may play a role in slowing down or speeding up this timeline.

What’s the last date 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 when 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 fewer people receiving a second stimulus control, it is possible that it does not take that long to send a second round of checks.

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Even when some companies start opening up, the United States has an astonishingly high level of unemployment.

Angela Lang / CNET

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 track the status of your stimulus check, learn how to report your no-show check to the IRS and find possible reasons why your stimulus check has still not arrived.

Here are even more resources about coronavirus difficulties and unemployment insurance, what you can do if you have lost your job, what to know about drafts and late car payments and how to do Take control of your budget.


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