Second Round of Stimulus Checks May Come By August, Congress Suggests

President Trump Signs Coronavirus Stimulus Bill In The Oval Office

(Photo : Photo by Erin Schaff-Pool/Getty Images)
WASHINGTON, DC - MARCH 27: U.S. President Donald Trump signs H.R. 748, the CARES Act in the Oval Office of the White House on March 27, 2020 in Washington, DC. Earlier on Friday, the U.S. House of Representatives approved the $2 trillion stimulus bill that lawmakers hope will battle the the economic effects of the COVID-19 pandemic.

WASHINGTON - Stimulus checks' second wave might arrive earlier than expected for millions of Americans affected by the current global health crisis.

Several indications were shown by lawmakers on a number of occasions that an economic relief package should be pass to address the effects of COVID-19 before proceeding to their month-long recess this summer.

However, negotiations will most likely start on July 20, the date when the Senate will reconvene, due to their break for two weeks as part of their Independence Daybreak.

According to Forbes, Nancy Pelosi, the current House Speaker shared on Thursday that surely Congress will have enough time to negotiate another bill before the Capitol Hill clearance on August 7.

Pelosi also stated that since the Republicans showed publicly their positive interest towards the second wave of stimulus, they are anticipating that it will be a bill in the next few weeks.

It has been almost 2 months since the House comprised mostly by Democrats passed the HEROES Act or the Health and Economic Recovery Omnibus Emergency Solutions Act, a bill that includes a follow-up round of stimulus checks wherein each member would receive $1,200 including children but the legislation put a cap at a total of $6,000 per family.

Despite being favored in the Congress, the HEROES Act did not make it far past the House as it was considered Dead on Arrival by Republicans in the Senate.

The White House also shared that if the bill will be placed on the United States President Donald Trump's desk, definitely he would veto it.

However, there are still signs that White House would get behind additional funding as the US President recently shared that he does not only supports the second wave of stimulus checks but also wants a huge number compared to the Democrats, Newsweek reported.

But the US President emphasized that the process should be done properly as he wants the people to receive a larger amount than they can spend.

It has been more than three months since the CARES Act or the Coronavirus Aid, Relief, and Economic Security Act was applied by the

legislation that already provided assistance of $1,200 for individuals who are earning $99,000 yearly and for couples who are married and making less than $198,000.

Persons with dependents could also avail the $500 additional per person added to their stimulus check.

According to the information from the Internal Revenue Service last month, a total of 159 million Americans have received payments which sum up to close to 260 billion.

Mitch McConnell, Senate Majority Leader shared previously that if another stimulus will be passed it would probably this summer.

The top Republican also mentioned that the recovery effort should focus more on three things, healthcare, jobs, and kids.

He also mentioned that in order for the country to push forward to normalcy, K-12 and college students to resume their schooling and to re-energize hiring to as workers should be back on their respective jobs while preparing for the fall and winter as they search for the vaccine continues.