COVID-19 Stimulus Check Oct. 5 Update: Is a $3,400 Check Still Possible?

With President Trump battling coronavirus and the election around the corner, many people are wondering whether a second round of COVID-19 stimulus checks is ever going to become reality.

The answer: Democrats and Republicans still generally agree that a second round of checks – likely $1,200 for each qualifying taxpayer and $3,400 for a family of four – is a good idea. The problem is that neither side has been able to agree on the overall cost of a second stimulus relief plan that contains many other measures. Thus, stimulus checks have been bogged down in that seemingly endless negotiation.

What’s the latest? On Sunday, House Speaker Nancy Pelosi, a Democrat, revealed that Democratic and Republican negotiators are “making progress.” They’ve come closer in compromise amounts proposed, but are still not in agreement on overall pricetag. With Trump urging people to get it done, there could be renewed incentive to do so. The problem is there’s political posturing on both sides, and no one wants to give the other side a perceived victory before November 3.

Also in the mix: Another extension of extra unemployment benefits.

Here’s what you need to know:

Pelosi Said Both Sides ‘Are Making Progress’ & ‘Relief Is on the Way’

GettyU.S. House Speaker Nancy Pelosi.

Pelosi sounded optimistic in her Sunday statement, but she still directed a barb at Republicans. Here is what she said, according to the CBS News transcript.

Well- well we are making progress. Well we were trying to get that done in the House, but the Republicans object- objected. But what I said to the airline executives in a public statement is, don’t fire people. You know, that relief is on the way. So, and it will be retroactive. So let’s keep them employed because, separate from other industries, when you’re fired- when you’re let go in the airline industry, it takes months or years to be recertified, reclassified all of that, security clearances and the rest. Not like if somebody has another kind of a job, they leave, they come back. So that’s- that makes a difference. But also–

Margaret Brennan, the host, asked, “Could that come this week?” Pelosi responded:

That just depends on if they understand what we have to do to crush the virus. You can’t just say we need- we need to do something, but we’re going to let the virus run free. Now, it’s even run free in the White House. Think of how it is in a poor neighborhood where the president is insisting that children actually go back to school in order to get the funding that he is recommending. These poor kids are largely minority children. People exposed to the virus are largely minority. Everybody’s affected. But the death toll in the lack of- of testing and tracing in the minority community has had a very negative impact. So we have to be serious about this. One of the, let me just back up for a second and say this. For a long time, the Republicans in Congress and this president have been antiscience. They don’t trust science and they don’t believe in governance. So if science says you should be test- testing,–

The $3,400 figure presumes that you would be a family of four. That’s the amount in the new Democratic stimulus plan, which would give each qualifying taxpayer a $1,200 check like last time and $500 for each dependent. It’s likely that Republicans won’t agree to everything in the new Democratic plan, especially the overall amount of it, but the stimulus check figures do match the amounts Republicans have also proposed. In fact, they represent a compromise by Democrats, who initially were seeking more for each dependent.

According to the House Committee on Appropriations, the updated Heroes Act “provides additional direct payments, cushioning the economic blow of the coronavirus crisis with a more robust second round of economic impact payments of $1,200 per taxpayer and $500 per dependent.”

The new Democratic plan would also give people $600 a week in extra unemployment benefits. The plan did pass the U.S. House on October 1 in a vote. However, it needs Republican support, so there’s probably going to be some compromise needed if it’s ever going to get done.

President Trump Tweeted That Lawmakers Should Get Relief Done

Trump TwitterPresident Trump

Even though he’s battling COVID-19, Trump took time to tweet on the matter. On October 3, Trump wrote, “OUR GREAT USA WANTS & NEEDS STIMULUS. WORK TOGETHER AND GET IT DONE. Thank you!” The president can’t get stimulus checks done on his own because the Constitution gave funding authorities to Congress.

Will it happen? According to CNBC, September’s job report was weak, driving need for another stimulus package. But neither side can agree on the overall pricetag for a second stimulus relief plan, even as they conceptually agree to some narrower provisions in it (like stimulus checks.)

What of other key Republicans?

Washington Post reporter Jeff Stein tweeted that there seems to be some hope, “Oh boy twitter. (Treasury Secretary Steven) Mnuchin just now on talks with Pelosi: ‘We have reached an agreement that if there is a deal there will be direct payments’ — meaning the $1,200 stimulus checks. Still need the deal tho!”

Forbes reported that House Speaker Nancy Pelosi and Mnuchin were resuming talks on October 1. “We’ll have to see. If we have an agreement, we’re going to pass that agreement, then we’re done until after the election,” House Majority Leader Steny Hoyer said then, according to Forbes.

Republicans want a plan closer to $1.5 trillion, according to CNBC.

The White House has proposed $1.5 trillion as a counter proposal.

“If it starts with a 2, it’s going to be a real problem,” White House Chief of Staff Mark Meadows told Reuters on September 30.

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