Second Stimulus Check: Start of Week Update

The current status of a second stimulus check is unclear, as both sides of the aisle have failed to reach an agreement on the parameters of the next economic relief package. Some lawmakers, however, remain hopeful that a deal will be reached.

On Friday, House Speaker Nancy Pelosi said, “I’m optimistic. I do think that we should have an agreement. That’s what we all want. We came down a trillion dollars right from the start and said, ‘We’ll come down a trillion and you go up a trillion.’ And then we went further than that and said, ‘We’ll meet you halfway.'”

Others, however, are skeptical. Last week, Senator Pat Roberts, a Republican from Kansas, told reporters that negotiations have hit “sort of a dead end street,” according to CNN.

The good news is that if a deal is reached, it won’t take as long as last time for those payments to be issued. Treasury Secretary Steven Mnuchin has said it would “take about a week to mobilize the first payments,” according to CNET.

The House is set to return on September 14. They have only twelve days before they are scheduled to break again for the election.

Here’s what you need to know:

Last Week’s GOP ‘Skinny’ Bill Failed to Garner Support

Last week, the GOP ‘skinny’ plan failed to garner enough support in the Senate to move forward.

Since then, in the words of AL.com, many lawmakers are “are predicting relief measures will be on hold until after the Nov. 3 presidential election.”

The ‘skinny’ bill came in at an estimated $300 billion and needed 60 votes to pass; ultimately, 52 voted in favor and 47 voted against it. All Republican Senators apart from Senator Rand Paul voted in favor of the bill.

The proposal included $300 per week federal unemployment through December 27, expanded terms for the Paycheck Protection Program, and more money for schools and the post office, according to Forbes. It did not include another round of stimulus checks for the American people.

Where Negotiations Stand Now

According to Forbes, there is “no indication” that bipartisan talks will continue in the near future.

Treasury Secretary Steven Mnuchin, however, has echoed Pelosi’s optimism about the prospects of a “possible compromise,” according to Newsweek.

Speaking to CNBC’s Squawk Box on Monday morning, Mnuchin said, “There is a compromise if the speaker [of the House] is willing to move forward. I am somewhat concerned that she’s afraid any deal would be good for the president,” Mnuchin said.

He added, “I’ve told the speaker I am available anytime to negotiation, no conditions.”

Over the past few weeks, Democrats and Republicans alike have hurled accusations at one another, claiming that the other is “playing politics with the proposed relief packages,” in the words of Newsweek.

Now, they have just over two weeks to attempt to iron out the details of a stimulus package before breaking for the election. Whether or not they can come to a consensus in that time remains to be seen.

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