If you are one of the millions of Americans struggling financially through the coronavirus pandemic it was another frustrating week.
Republicans and Democrats continue to say they know the country needs a second stimulus package to make ends meet and keep the economy running smoothly through year’s end.
Republicans and Democrats also continue to not be able to find enough in common to make an agreement happen and get that money on its way to bank accounts.
And the clock is ticking for them to get a deal done and still have the money hit bank accounts by year’s end.
So, while that all isn’t the best of news, the past week has had promising developments.
Following March’s first stimulus deal it appeared a certainty that a second would follow in 2020. But the two sides seemed to reach an impasse in August that rolled through most of September, but House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin began negotiating again last week and Democrats in the House passed through another package that called for $2.2 trillion in aid. That package, however, appears to have been largely symbolic as Republicans have been countering with a deal that is between $700 billion to $1 trillion less.
But, according to Business Insider, while the negotiations have been promising, President Donald Trump’s COVID-19 diagnosis could also factor in.
In fact, Pelosi cited that while continuing to promote a deal getting done for the Democrats’ proposed $2 trillion-plus in aid.
“This kind of changes the dynamic, because here they see the reality of what we have been saying all along: This is a vicious virus,” she told MSNBC Friday.
Business Insider reported that Stephen Moore, an outside economic adviser to the White House, said he believed the diagnosis didn’t change much, and that he advised Trump several weeks ago against a second stimulus package. However, Moore told Business Insider he believed Trump might search for a “pick-me-up” in the weeks before the election and push to get a deal done.
“He needs a victory here, and a deal — he thinks it’ll help the country but also help him politically,” Moore said.
So, Business Insider said, odds of a deal have increased, and Moore said he believes there’s a “65 percent chance” a deal gets done.
So, after a week where it appears some ground was gained, the biggest questions Americans have appear to be will a payment come this year? And, if it does, how much will it be?
The answer to that first question continues to be a maybe. If the sides can continue to push forward and reach agreement in the next few weeks, you could very well receive a stimulus payment before the end of the year. If they don’t, you won’t. Pelosi told Business Insider she remains “hopeful,” that won’t be the case, but she said that five areas — Federal unemployment benefits, school, local and state funding, tax credits for families with children, virus testing and tracing and appropriations — continue to be sticking points between the sides.
And, of course, that overall total bill with the Democrats pushing for more than $2 trillion while Republicans are looking for a more slimmed down package.
As for how much you might get should a deal get done, much like March’s first round of stimulus checks the popular number that keeps being pushed out there is $1,200 for individuals and $500 for dependents. Those appear to be attached to almost every proposal in some way so if you had to bet on a financial total paid to Americans, they’d be the numbers you’d want to bet on.
But, again, the sides have yet to agree, and those numbers could be trimmed down as they try to find common ground.