A second stimulus check has not been approved yet in the White House, so we have yet to know when the Internal Revenue Service (IRS) would begin issuing payments.
Once approved, it is expected that the federal agency would send payments of up to $1,200 to eligible Americans whom the IRS considers adults in weeks or months.
With merely a few weeks left in Congress' session and President Donald Trump distracted with the United States election results, the path appears questionable for a negotiation to be brokered amid the "lame-duck session," the duration in November and December before a new Congress and a new president is bequeathed power in January.
Congress left town prior to the U.S. election without a COVID-19 stimulus negotiation in hand and failing to reach a conclusion following months of often disputable deals.
Negotiations over a bipartisan relief bill have been halted since July, reported USA Today.
Time is reportedly running out on millions of United States citizens who are unemployed due to the pandemic as programs initiated in March under the CARES Act, including enhanced unemployment benefits, would expire on December 31. Republicans and Democrats did not reach a deal to authorize more stimulus funds before the November 3 election, reported CNET.
Capitol Hill leaders have returned to discussions over another economic aid package. The dynamics of these talks are hastily changing.
Senate Back in Session
The Senate has returned to session this week, and lawmakers have returned to negotiations around another stimulus relief package. The goal is to pass the bill by the conclusion of 2020 prior to the January 20 inauguration of a new U.S. president. The same question is posed: the amount to be spent on a new deal, reported another article from CNET.
According to Senate Majority Leader Mitch McConnell on Tuesday, "I don't think the current situation demands a multitrillion-dollar package. So I think it should be highly targeted. It seems to me that snag that hung us up for months is still there."
Many pandemic relief aid programs are expiring next month or running out of money. U.S. households face more problems without another round of government financial assistance. According to analysts, it is possible that another stimulus bill would be passed, but the unknowns involve are its timing and size.
The novel coronavirus relief bill approved in March included stimulus checks sent out to millions of U.S. citizens in dire need. Checks of $1,200 were delivered to mailboxes and directly deposited to bank accounts across the nation to eligible Americans.
Once a second stimulus bill is approved, this will start to be sent out to people who signed up for a direct deposit, then proceed to paper checks and then through EIP debit cards.
If the IRS owes a citizen full or partial check, they should file a claim by November 21.
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