Why a Stimulus Check May Have to Wait Until A New President Takes Office

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Because the passage of the Coronavirus Support, Reduction, and Financial Safety Act (CARES Act) in late March, lawmakers have been attempting to succeed in a compromise on one other COVID-19 aid invoice.

Sadly, whereas each side agreed that People want another stimulus check and the unemployed want extra assist, Republicans and Democrats weren’t capable of finding consensus to go laws. This was a disappointment, as key negotiators on each the left and proper had hoped another bill would be passed earlier than election day.

Now, nonetheless, election day has come and gone, no stimulus invoice has but been handed, and it appears unlikely {that a} compromise might be discovered earlier than January. This implies if you happen to’re hoping for extra stimulus cash, you will in all probability have to discover other sources of aid. You want a fallback in case lawmakers are unable to behave to ship extra money into your bank account within the coming months.

Leaders from each events count on to attend

One of many largest obstacles to signing one other stimulus examine into legislation earlier than inauguration day is that key social gathering leaders on each the left and proper appear to have accepted the wait.

Democratic Home Speaker Nancy Pelosi instructed her weekly press conference on the finish of October that she needed extra COVID-19 aid than the Republicans would authorize. The Republican’s proposed aid payments fall far in need of the HEROES Act the Home handed. As such, she prefers to attend till former Vice President Joe Biden wins the presidency and takes workplace to allow them to take a unique path. This assertion was, after all, made previous to the election when the polls steered a robust risk that Democrats would management all three branches of presidency.

Republican Senate Majority Chief Mitch McConnell, then again, additionally indicated previous to the election that he expects Congress to maneuver ahead with stimulus aid in the beginning of 2021. This might possible be after the subsequent president is sworn in. McConnell mentioned that these on the fitting would like more targeted relief on a smaller scale than Democrats have pushed for. Nevertheless, in some current post-election statements, he appears to have walked again on this place. He is now saying that it might be doable to go a stimulus invoice sooner fairly than later.

In fact, as management of Congress appears set to stay divided, battle over what ought to be within the subsequent stimulus invoice is prone to persist. There’s an opportunity a deal won’t be reached shortly, even after inauguration day.

Different points might additionally intrude with one other stimulus examine

Different doable obstacles to passing extra stimulus previous to inauguration day transcend the continued disagreements about how a lot aid to provide.

There’s a very actual risk that President Donald Trump might have interaction in authorized proceedings to problem the outcomes of the 2020 election in sure states. This might solely serve to extend partisan rancor in Washington. And the Senate could also be consumed with confirming judges throughout the lame duck session, fairly than fulfilling different legislative priorities.

In fact, if leaders from each side come to grips with the truth that management of the federal government will possible stay divided for a minimum of the subsequent two years, it’d immediate lawmakers to behave. There’s an opportunity they could determine it is higher to compromise sooner fairly than later. Since you possibly can’t financial institution on this consequence, although, it is best to begin on the lookout for other sources of relief if you happen to had been relying on stimulus funds that can assist you make ends meet.

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