Congress is trying to pass a new stimulus package before the end of the year. But a second stimulus test of up to $1,200 per voting-eligible U.S. could not be included in the legislation until early 2021, after President-elect Joe Biden took office. Congress is trying to pass a stimulus package that will last only a few weeks before the end of 2020 and could include a second direct payment. This is where today`s negotiations are. Finance Minister Steven Mnuchin and House of Representatives spokeswoman Nancy Pelosi announced the resumption of negotiations for a new stimulus package that could include a second round of stimulus. Biden called the $908 billion proposal a « repayment » for a bigger, future stimulus package and stressed that « immediately necessary » relief for unemployed Americans, people facing forced eviction and people fighting for mortgages have already been mentioned in the $3 trillion Democratic Heroes Act passed on May 15. , which the House of Representatives revised to $2.2 trillion on October 1. Senator Mitt Romney on the party-to-party deal today: « I`m a deficit hawk … This is not a $1.8 trillion stimulus package. This is a burden relief measure — half that amount »It also says that 908B price tag contains about 560B to Cares.
« The amount of new money is actually $348 billion » If you received the first stimulation check, you will probably receive a second one. However, the requirements may differ from the CARES Act as negotiations progress. However, the multi-party proposal does not provide for a new $1,200 cyclical review. A smaller bill could be passed now, and a bigger one could happen later: a subset of programs could be funded before Biden becomes president, such as unemployment aid or an extension of the deportation ban, with the new Congress returning to other programs after his inauguration, such as a second stimulus check. As current president, Trump is expected to sign any legislation passed by January 20 so it can take effect. While Treasury Secretary Steven Mnuchin and House spokeswoman Nancy Pelosi have narrowed their differences, negotiations are still deadlocked until October 26. Some of these are related to differences of opinion on other elements of the package, including a national testing and traceability programme for COVID-19. « We are in talks.
And if I have a conversation with the administration, it`s in good faith. I hope that Minister Mnuchin will represent something that can lead to a solution. And I think we can agree. If negotiators agree on a stimulus package, it will fail either in the House of Representatives or in the Senate: in this situation, Democrats and Republicans could advance their own proposals, which could happen in their majority chambers, but which fail (or are not taken into account) by the other. In that case, Congress could try again after Biden is sworn in as president.