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Home / Tips and Tricks / Stimulus package: All the reasons why we think a new bill will pass

Stimulus package: All the reasons why we think a new bill will pass

    Breaking the piggy-bank-stimulus-check-cash-money-savings-debt-personal-finance-023

There is a hint that the stimulus bill can still be saved.

Sarah Tew / CNET

Leaders on Capitol Hill have postponed and returned to their home states, despite a desire to seek common ground earlier this week on next coronavirus download. Republicans and Democrats remained feedback on the price of the next package, which is expected to includea second stimulus control. The deep lines drawn by both sides in the political sands have left millions of Americans’ financial futures uncertain during COVID-19 economic crisis.

At least one senator has requested that the selection be completed and that Congress return to work by stimulating the bill, in order to deal with service crisis before presidential.

“[Senate Majority Leader] “Mitch McConnell should complete the deepening, return to Washington and work to meet the bipartisan emergency funding needed to provide urgent financial relief, combat this pandemic and ensure that the postal service can operate safely and quickly,” said Catherine Cortez Masto, a Nevada Democrat, in a statement released on Saturday.

The Senate was suspended Thursday after the House, with plans to return September 8 and 14, respectively. The return date in September may vary with The Democratic National Convention starts on August 17 and goes through on August 20.

Although offices on Capitol Hill are empty, five signs point to a deal that is still happening, one that still can put money in your pocket this fall. We update this story frequently as the news develops.

No. 1: Republicans and Democrats want to restart stopped talks

If all the name-calling and finger-pointing in the past week has revealed anything, it is that both sides are realizing the need for another emergency package to help the United States deal with coronavirus testing. reopening of schools, a threatening eviction crisis and that upcoming elections, including.

Although he signed four executive measures last week, President Donald Trump tweeted support for a bill (while basing Democrats), with the school opening on his personal agenda.

“We can not wait until September 30,” Pelosi said on Thursday about the passage of the stimulus bill. “People will die.”

When could the stimulus bill pass?

House votes

The Senate votes

The President signs

Possible timeline if the legislation is adopted in September

September 8

September 9th

September 10

September 14

September 15

16 September

16 September

September 17

September 18

September 21st

September 22

September 23

No. 2: Trump’s executive measures do not cover every proposal

To date, the President’s directive (one executive order and three memoranda) covers a maximum unemployment benefit of $ 400. examine protective protection, deferral of student loan payments and a wage tax reduction.

Trump’s executive action skips areas that have been considered in a two-party stimulus package, including:

  • Testing, tracking and processing of COVID-19
  • Support schools that reopen and provide PPE (personal protective equipment)
  • Food aid
  • Support for local and state governments
  • Protection against liability from coronavirus lawsuits
  • Money to keep post offices open for elections

On the Republican side, McConnell has repeatedly said that liability protection for companies and schools must also be part of an agreement, which the order did not affect.

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No. 3: The executive orders can take weeks to complete

Trump’s memorandum proposed an unemployment benefit of a maximum of $ 400, of which federal funds would only cover $ 300 and states are expected to chip in the remaining $ 100. Governors in cash-strapped states battling the coronavirus pandemic are already pushing back. Earlier this week, New York Government Andrew Cuomo called the preferential order “laugh.” California Gavin Newsom estimated that matching the proposed unemployment benefits would cost California about $ 700 million a week, which would require deep program cuts.

Larry Kudlow, White House economic adviser, said federal aid would only take about “two weeks”, but labor experts have said Americans can wait up to a month before seeing a check.

In addition, the new program will only be available to people who can certify that they are unemployed or partially unemployed due to disruption caused by COVID-19, and only if they have already qualified for at least $ 100 a week in unemployment benefits. The policy excludes about 1 million people.

The methods that Trump wants to fund his orders could cause more delays. Trump is unilaterally trying to use remaining or unused FEMA funds – rather than what experts say will be an active hurricane season – to pay unemployment benefits.

pennies-on-the-dollar-small-change-stimulus-check cash-money-004

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

Sarah Tew / CNET

If Trump’s orders are questioned in court, legal action could further delay relief payments to Americans. Because the Constitution gives Congress control over federal spending, Trump may not have the judiciary to issue binding executive orders on how money should be used during the pandemic.

In addition to the waiting time to receive federal unemployment benefits, funding can also run out in about a month and a half, according to Department of Labor officials.

No. 4: Orders can be a dead end

In addition to lacking a definitive stance on relief, as well as measures to test, detect and treat coronavirus, the orders signed by Trump are not officially renewed by a draft moratorium. Instead, they leave decision to deal with drafts in the hands of Health and Human Services Secretary Alex Azar and Centers for Disease Control and Prevention Director Robert Redfield. There is also no official direction to provide financial support to tenants, which leaves up to Finance Secretary Steven Mnuchin and Housing and Urban Development Secretary Ben Carson.

The memorandum on the postponement of student loans only extends earlier deadlines. And when it comes to payroll tax cuts, Schumer said the directives could leave individuals and companies with a larger bill to pay within a few months.

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Democrats and Republicans have disagreed on how much aid should be included in the stimulus package.

Sarah Tew / CNET

No. 5: Politicians need a win in the election

The election season is well underway and November is fast approaching. As such, 470 seats in the US Congress – 35 Senate seats and all 435 House seats – were elected.

Trump, McConnell and Pelosi all look set to be re-elected this fall. And the courts are aware that their constituents look at every step in the matter stimulus negotiations. It is also possible that the topic of a relief package may come up during town halls or debates during the election period.

The first time unemployment claims amounted to 963,000 last week, and dipped only marginally below 1 million claims for the first time since March, and a housing crisis that grows ever closer, and while waiting on the other side to cave can only be seen as a valid decision for While. Votes are in line, and by pushing through a functioning stimulus package, it can ensure a new term of office.

For more information we have looked at how soon you can get your second stimulus check and compared HEALS, CARES and Heroes stimulus proposal.

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