Will There Be A Second Stimulus Check?

Remember the second stimulus check?
It might never happen.

This is the one subject that has Americans glued to the news:

  • subreddit dedicated to discussions about stimulus checks has over 25,000 members.
  • And a Google search of “Second Stimulus Check” returns 190 million results.

The “skinny” deal’s total package of $650 billion was a noticeable mark down from the $1 trillion HEALS Act Republicans proposed in July and about a fifth of the $3.4 trillion HEROES Act the House of Representatives passed on May 15.

Both the Heroes Act passed by House Democrats and the HEALS Act introduced by Senate Republicans include a $1,200 Economic Impact Payment (EIP). President Trump favours stimulus payments.

The IRS could send payments quickly. When and if another stimulus check happens, Treasury Secretary Steven Mnuchin has said it would take about a week to orchestrate the first payments. “I can get out 50 million payments really quickly. A lot of it into people’s direct accounts,” he said.

There were no second stimulus checks in August. There’s still chance they will go out in September (or what is left of it). Maybe a bill will be passed in September, with checks issued in October

One reasonable fact still remains: if a second stimulus package isn’t passed in September, with checks issued in October, our next best hope will be 2021.

Since the recent hearing with Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell, what is the current talk about stimulus?

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