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Home / Tips and Tricks / Stimulus negotiations and a second check: Not dead yet. Here’s why and what can happen

Stimulus negotiations and a second check: Not dead yet. Here’s why and what can happen



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It is time for Congress to reach an agreement before it breaks for the election.

Sarah Tew / CNET

Will Congress adopt more economic stimulus legislation this year or not? That’s the question as a series of tweets sent from President Donald Trump’s Twitter account first stopped the negotiations for another stimulus package when they began to give agreement and then called on Congress to provide more financial support, including one other $ 1200 stimulus check, which Trump promised to sign immediately. Stocks dropped immediately.

The jigsaw activity was the latest in a month-long journey by Republican and Democratic leaders to reach an agreement on funding programs that include small business support; unemployment benefits and a other direct payment. Trump’s actions came a day after he returned to the White House, after three days off hospital stay with coronavirus symptoms. He is undergoing treatment for COVID-19 which includes steroid dexamethasone and an experimental cocktail of antibodies.

“It is clear that the White House is in complete disarray,” House Speaker Nancy Pelosi said in a statement.

On Wednesday morning, White House Chief of Staff Mark Meadows confirmed that the administration wants independent bills. “We’re still willing to be engaged, but I’m not optimistic about a big deal. I’m optimistic that there are about ten things we can do at times,” Meadows told Fox News.

Pelosi signaled a willingness to discuss independent bills as her talks with Finance Minister Steven Mnuchin take a new direction.

Why did Trump abolish the larger stimulus package and what is the revised timeline for a new bill? We share what we know about the suddenly tough future of negotiations and will update this story frequently as news develops.

Read more: most important things to know about stimulus controls and each way your taxes affect stimulus controls.






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Why did Trump shut down the stimulus talks?

Earlier this week, Pelosi said negotiators would reach an agreement on a comprehensive package “in one way or another”, despite sticking points. So why did Trump pull the plug?

With Election day 27 days away included the reasoning Trump shared his belief that an agreement on a stimulus package would not be reached and that he wanted the Senate to turn its attention to the nomination of the Supreme Court’s Associated Justice candidate Amy Coney Barrett, the presidential election. It has been suggested that Trump and other high-ranking Republicans who tested positive for COVID-19 acquired coronavirus on Barrett’s nomination day, at events where masking was not universal.

The Senate, which paused personal votes until Oct. 19 after three Republicans tested positive for COVID-19, is already moving forward on Barrett’s nomination in committee meetings, which can take place remotely. Prior to Trump’s tweets, Senate Majority Leader Mitch McConnell had said his House would convene again to vote on a stimulus package if an agreement was reached.

A tweet from Trump early on Tuesday made his desire for more help clear. “When, immediately after I win, we will implement a major stimulus bill focusing on hard-working Americans and small businesses,” he tweeted.

When can a new coronavirus bill pass if nothing happens before November 3?

Pelosi on Tuesday night said that Congress could pick up the thread on another financial rescue package after the election. We have proposed four possible dates, based on the new timeline, both before and after the elections in November. These are just speculative. In the case of a second stimulus control, here is how fast do we think the IRS can send one.

When can a stand-alone stimulus bill or package pass?

The voices of the house

The Senate votes

The President signs

19 October

October 20

21 October

November 9

November 10

11 November

16 November

November 17

November 18

November 23

November 24

November 25

February 1, 2021

February 2, 2021

February 3, 2021

Did the House not pass a new stimulus bill? What’s going on?

On October 1, the House of Representatives approved a revised hero law that includes a second incentive check and additional benefits, such as enhanced unemployment benefits for tens of millions of Americans. However, the new bill, mostly approved by Democrats, has little chance of advancing through the Republican-controlled Senate.

According to Pelosi, the vote on the revised hero proposal was independent of ongoing negotiations with Mnuchin. If Pelosi and Mnuchin agree on a new proposal, a new bill would need to be drafted separately and voted on in both the House and Senate before it was signed into law. The total cost of the package and funding allocations as a tax credit for children have been the main sticking points.

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Will America approve a new stimulus bill? Both sides agree that more help is needed.

Angela Lang / CNET

Why did the house pass Heroes 2.0 if talks are in progress?

The vote is believed to provide coverage for House Democrats when they fight without a new relief law, much like the Senate did earlier in September for Republican members with their meager $ 650 billion bill. Like the meager Senate bill, this new House proposal has little chance of advancing in the second chamber.

What do Democrats and Republicans agree on?

Suggestions from both sides include another incentive payment of up to $ 1,200 for individuals which meets the requirements, among topics such as aids for airlines, coronavirus testing and expansion of the company payroll check program.

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

Sarah Tew / CNET

With calls pending, could the president take executive action?

After the talks originally collapsed on August 7, Trump signed an executive order and three memoranda the next day. It is possible that more executive action could come if this final attempt at negotiation fails before the election, but there has been no development since Trump first suggested that his administration consider another executive measure to circumvent Congress.

It is unclear whether Trump would continue with more unilateral action at this time.

Pelosi expressed doubts about Trump’s ability to use executive orders for additional aids.

“No. No. He can not do this by executive order,” she said on October 5. “He can not make the money without the US Congress. The power of the bag begins in the House.”

Trump’s previous COVID-19 measures to enforce relief address to try slow expulsions, extension unemployment benefits to a lesser extent and defer payroll taxes until next year.

So what happens now?

The situation is still in motion. We are currently waiting to see if there is any development. Anything can still happen.

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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