Individuals had been holding out for the next payday, however the Senate Majority Chief is not having it.
Individuals have been determined for monetary aid within the wake of the coronavirus pandemic. The final dose of aid got here within the spring, when the CARES Act gave the general public a spherical of direct stimulus checks price $1,200 apiece. However the newest aid invoice is not almost as beneficiant, with stimulus checks coming in at just $600.
President Donald Trump truly blasted lawmakers for being stingy with these stimulus checks and known as for $2,000 payments as a substitute. The Home voted in favor of a invoice to extend the second stimulus checks this week. However the measure nonetheless must go the Senate. And Senate Majority Chief Mitch McConnell is doing every little thing in his energy to forestall that from occurring.
Yesterday, McConnell blocked Senate Minority Chief Chuck Schumer’s try to extend direct stimulus funds to $2,000 by a unanimous vote. The Senate might nonetheless vote on the invoice, but it surely’s unclear precisely when that will occur. McConnell additionally proposed rolling the $2,000 verify in with different much less in style strikes, reminiscent of an election fee and liability protection.
Within the meantime, Individuals will likely be left with out extra support.
It is all concerning the cash
Lawmakers haggled over the main points of a second aid package deal for months and value was a giant level of rivalry all alongside. Democrats wished to go large on spending whereas Republicans seemed to chop prices and hold the worth tag to a minimal. It is estimated that including $2,000 direct stimulus funds to the combo will improve the price of the brand new invoice by $464 billion. And that is one thing McConnell is unlikely to be joyful about.
Nonetheless, it is clear that Individuals actually need the assistance, and for a lot of, a mere $600 verify is not going to chop it. Numerous individuals have seen their revenue take a major hit in the middle of the pandemic. Thousands and thousands have been compelled to file for unemployment. And people who had been lucky sufficient to have savings at first of the disaster could have, at this level, depleted their financial institution accounts.
In fact, the newest aid invoice would not solely embody $600 stimulus funds. It additionally contains boosted unemployment, rental help, and a second spherical of forgivable Paycheck Safety Program (PPP) loans. The PPP loans are designed to each save small companies from everlasting closure and forestall extra job loss. A $600 stimulus cost is actually higher than nothing (a invoice that did not embody any direct stimulus money was truly on the desk at one level). However finally, slashing the worth of the primary verify in half is a slap within the face to the hundreds of thousands who’re struggling.
To be clear, at this level, these $2,000 stimulus checks aren’t off the desk. However a fast vote on the matter is. And seeing as how badly Individuals want aid, that is not a superb factor.
Plenty of Republican senators have indicated that they are in favor of accelerating the quantity of this newest stimulus verify. The query is: When will a vote truly occur, and can there be sufficient supporters of these $2,000 checks to make them a actuality?