Second Stimulus Check Looking Like It Will Happen
By Dave Basner
June 11, 2020
Last month, the House of Representatives passed the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, which would see a second stimulus check go out to millions of Americans, following the $1,200 many people received as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act. However, Senate Majority Leader Mitch McConnell said that the HEROES Act would not pass the Senate, with many Republicans calling it "dead on arrival."
Their issue is the $3.5 trillion price tag, which they feel is way too expensive. One of the main drivers of the high cost is the stimulus check, so plenty of politicians would like to see it removed from the bill. Since the Republicans control the Senate, the possibility of not seeing another stimulus check was high, but this week, Treasury Secretary Steven Mnuchin spoke with the Senate Committee on Small Business and Entrepreneurship and had some interesting things to say to them.
Mnuchin stated, "I think we're going to seriously look at whether we want to do more direct money to stimulate the economy. I definitely think we are going to need another bipartisan legislation to put more money into the economy." This means Republicans might be swayed to vote for another stimulus check, which before Mnuchin spoke seemed less and less likely - especially since unemployment numbers have dropped.
While things look promising now for a second stimulus package, others in the Trump administration are considering different kinds of proposals. Larry Kudlow, one of President Trump's advisers, said he thinks the focus should be on "less rescue and more incentive," suggesting a $450 return-to-work bonus.
Whatever is decided, Republicans have capped the bill at $1 trillion, which could severely limit the amount of a stimulus check. Americans will have to wait some time to find out what, if anything, they might receive in another coronavirus relief package. The Senate will continue to debate the issue and it likely won't be resolved until July. And if there is another check, it will almost certainly be the last one.
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