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Politics Stimulus Bill and Checks Not Likely to Arrive Before Biden Takes Office

13:40  05 december  2020
13:40  05 december  2020 Source:   newsweek.com

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Bipartisan lawmakers are pushing a new stimulus plan as Nancy Pelosi and Mitch McConnell have made no progress on a coronavirus relief bill . Senate Majority Leader Mitch McConnell rejected a new bipartisan 8 billion stimulus plan put forward in an effort to break the legislative stalemate as

President-elect Joe Biden has a few moves available to him once he takes office on Jan. 20, if there's no bill before then. Stick around for what kind of stimulus Biden could deliver through executive orders alone. For more on another round of direct payments, here's when a second stimulus check

Another round of economic stimulus may have to wait until former Vice President Joe Biden takes office in January as deadlock in Congress continues and the Senate heads for its holiday recess.

Joe Biden wearing a suit and tie: U.S. President-elect Joe Biden speaks on November job numbers at the Queen theater December 4, 2020 Wilmington, Delaware. U.S. economy added 245,000 jobs in November and pushed unemployment rate to 6.7% from 6.9% in October. Biden could be key to passing new economic stimulus. © Alex Wong/Getty Images U.S. President-elect Joe Biden speaks on November job numbers at the Queen theater December 4, 2020 Wilmington, Delaware. U.S. economy added 245,000 jobs in November and pushed unemployment rate to 6.7% from 6.9% in October. Biden could be key to passing new economic stimulus.

Tens of millions of Americans received $1,200 stimulus checks in April of this year but a second check looks increasingly unlikely in 2020 and may have to be taken up by the new Congress.

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The federal government must resume talks and pass a new stimulus package before the IRS can issue a second round of checks . But there may be a complication if new stimulus legislation isn't passed before Biden takes office : Delays could be When the next stimulus check might arrive .

Biden has a stimulus plan with a second stimulus check , but he can't act on it until after he's If Trump signs it into law, stimulus checks and other aid would likely begin to go out within weeks To help visualize when a bill could pass, we've come up with five possible dates, both before and after

It's still possible for Congress to pass a stimulus bill before the Senate adjourns on December 18 but any bill agreed between Republicans and Democrats is unlikely to match the $2.2 trillion in stimulus passed in the Coronavirus Aid, Relief and Economic Security (CARES) Act in March.

Even if a new stimulus bill is passed, a second round of $1200 checks may be off the table until Biden assumes office on January 20.

Speaker of the House Nancy Pelosi and Senate Majority Leader Mitch McConnell are attempting to reach agreement on a relief package that could be worth less than $1 trillion and a $1.4 trillion omnibus spending bill.

However, success is not guaranteed. There are significant differences between the parties about how the money should be spent.

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Where's my stimulus check ? About 159 million payments arrived via direct deposit, paper check Here's when you can expect your stimulus payment to arrive The committee's report notes that the IRS has over 4 million tax returns to open and process now that the agency is back in the office .

These taxpayers won't get stimulus checks . That's unjust. Were Congress to take up such reforms, our experience at World Relief providing legal services to tens of thousands of undocumented But in the midst of this crisis, congressional action on immigration reform is not likely to happen quickly.

The Trump administration has indicated that it's not in a rush on COVID-19 stimulus and with President Donald Trump due to leave office, the task may be left to Biden.

Joseph LaVorgna, chief economist of the National Economic Council, told Yahoo Finance on Friday that "we don't believe the [economic] recovery at the moment is in jeopardy," calling any further stimulus an "insurance policy."

"What we don't want to do is give money for sort of a grab bag wish list project of the left," said LaVorgna, a Trump appointee.

For his part, Biden has expressed confidence that there's room for bipartisan agreement on a new stimulus deal. Reports suggest he's focused on steps to aid the economic recovery.

"All I can say is I'm confident there are a sufficient number of Democrats and Republicans in the United States Senate, along with significant votes coming out of the House of Representatives, to put together a serious package that will keep us from going off the edge here, provide the kind of resources that are needed immediately," Biden said on Friday.

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When's the soonest a second stimulus check could go out? These speculative dates show you when you might see a payment -- if a bill becomes law One important note about the speed at which the first checks might arrive : In August, Treasury Secretary Steven Mnuchin said it would take about a

If no stimulus check is approved by the time Joe Biden becomes US president on Jan. That would mean a check would likely go out in February at the earliest. See the chart below for specific, but (Here are separate stimulus measures Biden could take if there's no stimulus bill by inauguration).

By the time Biden takes the oath of office, the new Congress will have been seated and two runoff elections in Georgia will have decided control of the Senate. If Democrats can pull off surprise wins in both races, the incoming Biden administration would be in a stronger position to pass a large stimulus package.

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What David Perdue and Jon Ossoff Have Said About Another Stimulus Check .
Jon Ossoff is vying for Senator David Perdue's seat in Congress and has been hitting the congressman for not being a vocal advocate for another stimulus check.Perdue and Ossoff are in the middle of a tough battle for a Senate seat in Georgia and ousting the Republican incumbent from office could shift control of the Senate to Democrats. Ossoff has criticized Perdue for his record on stimulus checks, a relief provision that has broad support, and been a vocal advocate for another round of payments.

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