The stimulus package on the table right now is the HEROES Act, which will likely contain another round of stimulus checks for qualifying Americans. But has the HEROES Act passed? What’s the current update on the legislation?
The Senate returns from their recess on Monday, July 20, which is when negotiations on the bill will begin. They have just over two weeks to create, debate, and pass another stimulus package before the last day of their session.
Last week, Senate Majority leader Mitch McConnell stated, “We go back in session next week and in the course of the next couple of weeks, I’ll be laying out in the Senate another package. We are looking at another direct payment.”
The Senate has until August 7, when their next recess begins, to decide on the details of the package. Forbes stated that the Senate has hinted that they will not pass the HEROES Act, but will propose their own stimulus bill.
The outlet added that the Senate hopes to keep the package in the $1 trillion range. As it stands, the HEROES Act is a $3 trillion package.
The Heroes Act Has Not Yet Been Debated
As Penn Live pointed out, the details of HEROES Act have not yet been ironed out because of the Senate recess that started in June.
The HEROES Act legislation proposes a second stimulus check, debt relief, student loan forgiveness, hazard pay, six more months of COVID-19 unemployment, housing, and food assistance, according to Debt.org.
If stimulus checks are included in the impending package, it’s possible they will only be issued to those who make $40,000 or less. On July 6, Forbes quoted McConnell as saying, “I think the people who have been hit the hardest are people who make about $40,000 a year or less.”
An income cap would mean reducing the number of Americans eligible to receive a stimulus check.
The Earliest You Can Expect to See a Check
If the Senate and the House can agree on and pass legislation for a fourth stimulus package, and it is signed by President Donald Trump, then Americans can expect to see stimulus checks as early as August.
Speaking on Bloomberg Television on July 16, House Speaker Nancy Pelosi said, “We can’t go home without [new legislation]. More people have died. More people have gone on unemployment. And more people have been infected. What’s the value in [the Republicans] waiting?”
While Pelosi has said that Congress should not break again until a stimulus package is passed, Senate Majority Leader Mitch McConnell has said that the Senate will not work beyond August 7.
Thus, there is pressure to reach an agreement on a new relief bill between July 20 and August 7.
On July 17, Treasury Secretary Steven Mnuchin said that he hopes a package can be passed by the end of July. “We will be having bipartisan conversations about supplemental relief legislation and hope Congress will pass an additional package by the end of this month,” he said.
If an agreement is not reached by August 7, then negotiations will pick back up in September. The September session runs from September 8 through September 25.