| |

Looks Like We May Not Be Getting Another Stimulus Check Until Late July. Here’s What We Know.

This post may contain affiliate links. For more information, please read our disclosure policy here

I had all but given up hope on a new stimulus package, but it looks like we may get some sort of agreement on aid by late July. It might not look EXACTLY like we want it to, but the House and Senate are sure to agree on SOME kind of stimulus package.

July is when the extra benefits end for unemployment, and August means a congressional recess. According to Market Watch, somewhere between the end of July and the beginning of August would be the perfect time for the government to decide on a stimulus bill.

The House passed what it calls the HEROES Act in May, but this bill did not even get to the Senate floor. This would have included more stimulus money for people living in the U.S., more unemployment benefits, and additional aid for state and local governments.

According to Senate Majority Leader Mitch McConnell, if and when a NEW stimulus package goes through, it will be the LAST we see of coronavirus relief this year. I’m sure crossing my fingers and toes that it comes through!

My stimulus check was gone before it even got to my bank account because bills.

Republican and Democratic goals for a new stimulus package are completely different, like their stances on MOST things.

The Democrats want to get as much money as possible into the hands of the people who need it.

The Republicans focus is on “limiting coronavirus liability for businesses and a potential ‘return-to-work bonus,’ as well as showing restraint when it comes to more aid for state and local governments.”

So, what does this mean for another round of stimulus checks?

We won’t know until late July. There will most likely be SOME form of relief, but we are just not sure in what form it will be.

Fiscal conservatives may push for a smaller bill than Democrats want, but we think the events of the recent days plus the May jobs report which will be released on Friday will likely give Democrats additional leverage, so we think chances for a bigger Phase Four bill are likely to rise in the next few weeks.

Brian Gardner, KBW Analyst

July will be here before you know it. We just have to hold out until then to find out what will happen.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *