New COVID-19 Stimulus Package Will ‘Likely’ Be Revealed Thursday

On Wednesday, Washington Post reporter Seung Min Kim tweeted that multiple senior Republican sources have said the latest coronavirus stimulus package will “likely” be revealed on Thursday.

This contradicts Senate Majority Leader Mitch McConnell, who, when asked on Tuesday if the next relief package would be passed by the end of next week, said no.

Bloomberg also reported on Wednesday that there is a possibility of implementing a short-term extension of unemployment insurance as it’s “unlikely” a stimulus deal will be reached before the end of the month when benefits expire.

On Tuesday,  Forbes reported that Republicans and White House leaders were “struggling” to agree on a stimulus package proposal and that despite a sense of urgency from both parties, it doesn’t “necessarily mean the second stimulus will be passed in the next few days.”

As it stands, there still appears to be disagreement on the cost of the package. While Democrats passed a $3 trillion in May, Republicans are pushing for a $1 trillion package. President Donald Trump, meanwhile, has voiced requests that could “balloon that cost past $2 trillion, according to Forbes.

The HEROES Act Was Passed by the House in Mid-May

In mid-May, the U.S. House of Representatives passed the HEROES Act, which remains in the hands of the Republican-dominated Senate, who, according to Forbes, have suggested they will not pass the HEROES Act, but will propose their own stimulus bill.

Both the House and the Senate must pass a bill, and it must be signed by President Donald Trump, in order to become law.

The Senate has until August 7, when their next recess begins, to decide on the details of a stimulus package.

While White House Speaker Nancy 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.

Senate Majority Leader Mitch Mcconnell Confirmed That There Will Be A Second Stimulus Check

On Tuesday, McConnell stated that Senate Republicans “officially will support second stimulus checks,” according to Forbes.

Both Democrats in Congress and President Trump have already voiced their support for another round of payments.

“We want another round of direct payments, direct payments to help American families keep driving our national comeback,” McConnell said.

The details of a second check– including the amount and who is eligible to receive one– are unclear at this time.

McConnell previously hinted at the fact that a second stimulus check may come with a $40,000 income eligibility cap. Imposing an income limit would vastly reduce the number of Americans eligible for a second check.

“I think the next round we’ve got to be more targeted to those who are really in need. So I hope we can target this a little bit better to those who have been hit hard because of COVID-19,” Forbes quoted Senator Ben Cardin as saying.

This article will be updated with more information as it becomes available.

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