It’s become clear that Republicans are planning to approve a second COVID-19 stimulus check for Americans, but one top Republican leader now says it’s not likely they will happen in July.
That’s because, although the GOP-controlled Senate started negotiations over the stimulus relief package on the week of July 20, there’s still a lot left to hash out. That includes the exact amount and cutoff eligibility rules for a second check, although the Treasury Secretary Steve Mnuchin did make a comment that indicates those could match the first round, which would mean $1,200 for Americans earning less than $75,000 and less up to $99,000 in earnings.
The comment about when the second check would be issued came from House Minority Leader Kevin McCarthy, a Republican. He appeared on CNBC’s Squawk Box and said, “I envision that this bill doesn’t get done by the end of July,” because Democrats and Republicans will disagree over the package. He added, “We’re probably in the first week of August before we make this happen.”
"I envision this bill doesn't get done by July," says @GOPLeader Kevin McCarthy on the next stimulus bill. "We're probably in the first week of August before we make this happen." pic.twitter.com/UtENRAtKXJ
— Squawk Box (@SquawkCNBC) July 21, 2020
Congress returned to session on July 20. The Senate goes into its Senate Recess on August 7, so that’s the date by which the plan needs to be approved. The Senate comes back into session on September 8, according to Forbes. According to WRIC-TV, if disagreements push the passage of the second relief plan, including a second stimulus check, to the August recess date, it will take some time to process the checks, and you might not get one until the end of the summer.
Here’s what you need to know:
The Treasury Secretary Says the Checks May Be the Same as Last Time
Treasury Secretary Steve Mnuchin said on July 23 that President Donald Trump wants to “send out direct payments quickly so that in August people get more money.”
People have been waiting to learn how much they might get this time. Mnuchin also said on July 23, according to Fortune: “Our proposal is the exact same provision as last time.” That would make the checks the $1,200 figure for those making under $75,000 and who otherwise qualify, which would be a higher cutoff than the $40,000 floated recently by Senate Majority Leader Mitch McConnell.
Slowing down the process, though: There’s been growing dissent in the Republican ranks over spending, although the White House did drop a proposal for Social Security payroll tax cuts that had been upsetting some GOP senators. Republican Senators Ted Cruz and Rand Paul have been particularly vocal about their disagreement with the spending in the second stimulus relief proposal. A lot more than direct stimulus checks is on the table; for example, Republicans are also debating whether to extend the extra $600 weekly unemployment benefit, create liability protections for universities and other entities, and other things.
A Draft Summary of the GOP Proposal Says Stimulus Checks Will Be Included in the Relief Package
The New York Times obtained a draft summary of the GOP proposal, which is still being debated. Remember that, although the Democratic controlled House approved a package, it has to go through the GOP controlled Senate to become law.
The draft summary says that stimulus checks “will be included” in the Republican version of the second stimulus relief package but that the amount and eligibility criteria are TBA. Trump has voiced support for direct checks.
You can read that summary here.