August has come and is almost gone, and yet millions of Americans are still waiting to learn whether or not they will receive a second stimulus check, payment, or prepaid debit card from the IRS.
Multiple timelines earlier in the month had suggested that another coronavirus economic relief package would have passed both chambers of the U.S. Congress before reaching President Donald Trump’s desk by now. Instead, negotiations broke down, and there is now a standstill with no end in sight.
So, what’s going on?
“There’s a good chance a second direct payment will make it into the final relief package lawmakers pass for one good reason: The economy actually does need to be stimulated. If Americans don’t get that money, it could result in additional small business closures and other undesirable consequences that only prolong everyone’s misery,” Maurie Backman of The Motley Fool writes.
“Lawmakers seemed intent on a second stimulus check earlier in the year, and there’s really no reason for them to walk back that thinking. Americans shouldn’t give up on a second stimulus check altogether; they may just need to give up on getting one next month.”
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It all but guarantees that the HEROES Act, which passed the House in May, or the HEALS Act, which Republicans in the U.S. Senate unveiled earlier this summer, won’t be combined into one package until at least mid-September, as the new congressional session does not begin until after Labor Day. Assuming negotiations can quickly be held to find common ground, the best-case scenario for another round of payments to go out seems to be late September or the first month of October.
There is some encouraging news, however.
“We’ve had some good conversations with Democrats on Capitol Hill. I think there is common ground,” White House Chief of Staff Mark Meadows said Wednesday, according to CNet.
The final economic package that will include the stimulus check funding should make those who were eligible for one under the CARES Act in March eligible again, but leaders on both sides of the aisle will debate how much dependents should get and whether or not just those with a social security number will get one or if anyone with a taxpayer identification number could also get one.
To see how much you would get under the current writing of each act, enter your information into the Omni Calculator tools below. If you can’t see the embeds, click here.
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August 27, 2020 at 10:40PM
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Second stimulus check: Is the IRS ever going to send another payment? Here’s the latest - PennLive
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