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An Update On The Second Round of Stimulus Checks — And When To Expect Them

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cash stimulus for coronavirus

The next round of stimulus checks will reportedly resemble the initial May delivery with the same 160 million Americans receiving aid, according to reports. The funds could arrive as soon as next month in a plan being worked out by Treasury Secretary Steven Mnuchin and Senate Majority Leader Mitch McConnell — if Congress can approve the proposal before its recess.

The details of the checks would include: Individuals earning up to $75,000 would receive a $1,200 payment for themselves and $500 for their dependent children, couples earning up to $150,000 would also qualify, and the payment amounts phase down for singles earning up to $99,000 or $198,000 as a couple — just like the May aid.

“We’re talking about the same provision as last time, so our proposal is the exact same proposal as last time,” Mnuchin said to The Hill.

This bill would result in the IRS pouring nearly $300 billion into the economy, via direct deposits and mailed checks. While this would help Americans, a big question stands: Will this proposal be approved before the Senate recess starting August 10 and lasting into mid-September?

The House approved a proposal, the Heroes Act, in May to send out the second round of checks. Republicans raised concerns over the price tag — over $3 trillion — and McConnell has reportedly been working on different methods in the Senate for weeks.

This new proposal is expected to be detailed on Thursday after a meeting between McConnell, Mnuchin, and White House Chief of Staff Mark Meadows was held, where the administration and Senate Republicans reached an agreement. The aid bill will include the second round of checks and funding to schools to assist in recovering from the pandemic.

One feature that won’t make it in the bill is a cut in payroll taxes — a big point of contention after President Trump continually expressed his support for the cuts.

https://twitter.com/realDonaldTrump/status/1286332695023431683?s=20

Mnuchin said the cuts won’t be included as in would take longer to negotiate and the checks need to get sent out.

The stimulus and school aid are expected to be finalized Thursday. Whether Congress can approve the bill before going on break, has yet to be seen.

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Economy

Biden’s 60 Minutes Interview Horrifies White House: ‘Does NOT Reflect the OFFICIAL Position’

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Screen Shot 2022 09 19 at 2.41.05 PM

Uh oh. Someone let President Joe Biden speak by himself again and damage control immediately ensued. President Joe Biden’s “60 Minutes” interview which aired on CBS Sunday was 60 minutes of pure torture for viewers and 60 minutes of pure angst for the White House; everyone but the president himself.

60 Minutes’ official Twitter account publicly called out the President’s answers with an embarrassing statement that his own administration was in disagreement with him:

“President Biden tells 60 Minutes that U.S. men and women would defend Taiwan in the vent of a Chinese invasion. However, after our interview, a White House official told us that U.S. policy on Taiwan has not changed.”

CBS’ Scott Pelley also discussed inflation; an issue drastically affecting the welfare and wellbeing of families. Biden deflected with zero sympathy:

As for President Biden’s son Joe, he is sticking with the narrative that Hunter is the “smartest” person he knows and that “there’s not a single thing that I’ve observed at all that would affect me or the United States relative to my son Hunter.”

Biden also said that while the “proof of the pudding is in the eating” in response to being asked if he is fit to be President, Biden did not commit to saying whether or not he will run for re-election. His “intention” is to run again, “but that’s just intention” he said. “Is it a firm decision that I run again? That remains to be seen.”

 

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