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Why the second $ 1,200 aid check is still uncertain

2020-10-13T02:27:46.678Z

Millions of Americans wait for a second check without any certainty. We explain how the last months of negotiations have developed and where they are now.



By Lorie Konish - CNBC

Millions of Americans are still waiting to get another round of $ 1,200 direct checks on their bank accounts.

Whether that happens or not is up to Congress.

Republicans, Democrats and the White House have not yet been able to reach an agreement on how much should be spent and what items should be allocated the aid of the next economic stimulus package due to the coronavirus crisis.

That means the fate of another round of one-off payments is in question.

Protesters in New York Call for Rent Cancellation Due to Coronavirus Economic Crisis;

In this Oct. 10, 2020 photo, Corbis via Getty Images

Congress passed the first $ 1,200 check installments with the 'Cares Act' that passed in March.

The payments were directed to low- and middle-income individuals and families.

Individuals and married couples filing together were eligible to receive $ 1,200 or $ 2,400, respectively, plus $ 500 for each child under the age of 17. 

The Internal Revenue Service (IRS) and the Treasury Department

sent more than $ 160 million of those payments via direct deposit

or mail in the months that followed.

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As negotiations in Washington DC turned to a new economic stimulus package, a second round of checks for $ 1,200 has seemed at times like a sure thing and at times like a distant possibility.

This is how these negotiations have gone in the last five months:

-May 15: the House of Representatives approves the 'Heroes Act'

In May, the House of Representatives passed the 'Heroes Act' bill, which sought more than $ 3 trillion to stimulate the economy.

The legislation included an additional $ 1,200 stimulus package.

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This time, the family dependents' checks had been increased to $ 1,200 per member and could accumulate up to $ 6,000 per family.

The legislation also sought to expand the eligibility of dependents over the age of 17 and

include immigrants who do not have citizenship or permanent residence

.

-July 9: Eligibility limited to $ 40,000 income?

Senate Majority Leader Mitch McConnell, R-Kentucky, said he had considered limiting eligibility for a second round of economic stimulus checks to income of $ 40,000 a year or less.

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In response, Treasury Secretary Steve Mnuchin told CNBC that “we do support another round of economic impact payments.

We will discuss the amount and the criteria with the Senate ”.

-July 27: Republican senators introduce a bill with checks for $ 1,200

McConnell introduces a package proposal called the 'Heals Act', which includes a second round of direct payments.

The proposal establishes payments similar to those of the first round, with checks of 1,200 dollars for individuals and 2,400 for families, in addition to 500 per dependent.

Although this time the dependents over 17 would be eligible to receive the money.

During an interview, President Donald Trump said he wanted the second round of stimulus payments to be more than $ 1,200.

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-July 30: Republican senators propose checks for $ 1,000

A group of Republican senators introduced a bill seeking stimulus checks of $ 1,000 for both adults and children.

In the proposal, a family of four would be eligible to receive $ 4,000.

This time, all adult dependents would be eligible.     

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The leaders behind the bill were Senators Bill Cassidy, R-Louisiana;

Steve Daines, Republican of Montana;

Mitt Romney, Republican of Utah;

and Marco Rubio, Republican of Florida.

-August 13: Congress ended sessions without approving the stimulus

It seems that the approval of an economic stimulus bill for the coronavirus is many weeks away, after the leaders of Congress moved to their home districts.

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While the leaders in Washington DC could not agree on other issues, one

thing they all seemed to agree on was the convenience of those $ 1,200 checks.

But the deadlock in the negotiations would eventually frustrate the Treasury Department's hopes of granting more one-time payments to Americans in August.

Trump tweets his frustration and says: "The Democrats are delaying this!"

-September 10: Republicans in the Senate fail to pass a minor aid bill

A Republican bill of around $ 500 billion does not get the votes needed to pass the Senate.

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The proposal included higher unemployment benefits and more help to small businesses.

But prominently, another round of stimulus checks was not in the bill.

-September 16: Trump says Democrats are delaying stimulus payments

President Trump tweets that Democrats are "ruthless" and "don't want to give stimulus payments to people who desperately need the money."

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-September 30: Both parties still want another check for $ 1,200

Mnuchin says in an interview that a second round of stimulus checks, which are similar to the first payments, will be included in the next coronavirus relief package.

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Although both parties are in favor of sending more direct payments, other issues continue to obstruct negotiations.

Oct 1: Lower House Democrats pass updated economic stimulus bill

Democrats reassess and pass an updated version of the 'Heroes Act', which lowers the cost of the initiative by a trillion dollars, in an attempt to appeal to Republicans.

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The proposal includes stimulus checks for $ 1,200, but with more generous terms than in the first round.

Dependents of all ages would be eligible for payments of $ 500, for example.

People with taxpayer identification numbers would also qualify for checks, a change from early payments, which required valid Social Security numbers.

-October 7: Trump proposes to pass a separate law to send checks for $ 1,200

Since negotiations are not progressing, Trump proposes to write a new law only in areas where lawmakers do agree.

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That would include a $ 1,200 check bill.

While Washington DC leaders generally agree to the idea of ​​awarding more one-time payments, they would have to compromise on other issues, such as expanding eligibility beyond US citizens and resident aliens.

This proposal by Trump is a retraction of his call to suspend stimulus negotiations until after the November 3 elections.

Democrats reject the idea of ​​a new, less comprehensive bill.

-October 12: negotiations at a 'stalemate'

The White House has submitted a proposal for a more extensive stimulus bill, as Trump has wanted.

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The package includes stimulus checks of $ 1,200 per adult and $ 1,000 per child.

It also includes $ 400 a week for federal unemployment insurance through the third week of January.

House Speaker Nancy Pelosi, D-California, said Sunday that negotiations remain at a standstill until the White House agrees to address certain issues, namely, funding for COVID-19 testing, contagion tracing. and treatment for the virus.

Source: telemundo

All news articles on 2020-10-13

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