The timeline for when a new stimulus check might be hitting Americans’ bank account keeps backing up as Republicans and Democrats can’t seem to come to an agreement on what a second package should look like.
They do agree, though, that Americans are struggling and that some sort of stimulus is needed.
So, there’s incentive to get the thing done.
When could Americans see money in their accounts, though?
According to The Motley Fool, the soonest we may see payments is October. And, it said, there is a chance it might not come at all. But, it said, that is unlikely because “the economy actually does need to be stimulated.” Without payments, it said, we could see more small business closures “and other undesirable consequences.” For instance, the Wall Street Journal reported this week that, without a second stimulus, Americans have started spending less in grocery stores.
And that is, likely, just the tip of the iceberg when it comes to blows to the economy.
But when a payment might be coming isn’t the only question Americans have. They also want to know just how much they might be getting.
A recent Cnet.com report said that the checks would likely be around $1,200 for qualifying individuals. Folks with a family could end up with as much as $6,000 in aid if the deal is anything like the main proposals that Republicans and Democrats have put on the table.
The Washington Post developed a calculator so folks can try to figure out just how much they might get.
But, again, that all depends on the two parties actually coming together and reaching and agreement. And, reports as this week came to a close were that they were at a “deadlock.”
We’ve seen this before though, and things can change quickly. So, hopefully, the new date of October is one that the sides deliver on.
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August 29, 2020 at 07:00PM
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Stimulus checks: New date for payments and a look at how much money might be coming if Republicans and Democr - PennLive
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