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Another $ 1,200 stimulus check is pending on January’s Congress. What to know



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Will Congress approve a new one this year?

Sarah Tew / CNET

All signs point to one second stimulus control find its way to the last incentive invoice for 2020. But they might be halfway there $ 1,200 per person maximum amount that many expected. President-elect Joe Biden has hinted that more stimulus measures are to come in early 2021 – a third stimulus check for $ 1,200 be part of it? And if so, how would one greater stimulus control hope to pass in two months, when it has been eight months since the first stimulus check was approved?

“The stimulus package has taken place,” Biden said Wednesday, referring to the state of negotiations on one new $ 900 billion stimulus bill. “And it looks like there will be outright cash payments. But it’s a down payment – a major down payment – for what is due in late January and early February.”

The best hope for a bigger one stimulus control, and the accompanying package, could amount to: the new congress in 2021 could pick up the thread.

However, there is no guarantee that a new government working with a new group of lawmakers will make faster progress on one additional stimulus control last January. While both the White House and the House of Representatives will be headed by Democrats, control of the Senate will depend on two second elections in Georgia on Jan. 5. The outcome of those matches will determine which side will lead the senate. It can also influence whether or not a second stimulation check is considered.


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Stimulus control is popular – and expensive

The IRS has said it spent about $ 270 billion to send 160 million incentive checks, but once catch-up payments are added, the total number is likely to be closer to $ 300 billion. According to a report by the Washington Post, that’s enough money to keep a second stimulus out of the current stimulus bill.

Many economists argue that now is not the time to keep federal spending in check, as the economy is struggling to get back on its feet. Instead, the federal government should try to send more aid to support the economy.

“It would be a mistake to be shy with our policy solutions during this crisis,” wrote William Gale, senior fellow in the Economic Studies program at Brookings Institution. “Congress needs to allocate more resources – trillions of dollars – for emergency relief and incentives to support people and businesses.”

For tens of millions of taxpayers, the majority of the incentive money paid for food, rent and utilities and debts, a quarter of which is going towards savings, according to a Census Bureau survey this summer. With Biden’s warning, the country faces a “dark winter” – facing a spike in coronavirus cases in the US and an economy that continues to lose jobs – a second check would likely yield similar applications.

However, as of this summer, some Republicans in Congress have refused to fund another major aid package as the US deficit has soared, and Senate Leader Mitch McConnell has said repeatedly that any bill should have a significantly lower price tag than the $ 2.2 trillion. proposal pushed by House Democrats through the fall to gain Republican support from the Senate.

Whichever party controls the senate can make or break a bigger stimulus check

Biden has called on Congress to provide more assistance now, in the lame-duck session, before taking office January 20th. But the president-elect said anything Washington is now sending would be “at best just a down payment” for more substantial aid. he intends to make a proposal as soon as he takes office.

As a Democrat, Biden’s path to approval of economic aid – including a second check – could be much smoother if Democrats also hold both houses of Congress in the new year. In the next Congress, which begins in the first days of January, Democrats will retain a narrow majority in Parliament.

However, control of the Senate will depend on the second election in Georgia on Jan. 5 for two Senate seats. If the Democrats win both elections, the party will rule the Senate with 50 seats – 48 Democrats and two independents consulting with the party – and Vice President-elect Kamala Harris has the power to cut ties.

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Does Congress still have time this year to approve another direct payment?

Sarah Tew / CNET

If Republicans win one or both seats in January, the GOP will retain control of the Senate and Biden will begin his term with a divided government, with a Republican party led by McConnell that could oppose a second check for costs.

If Republicans retain control of the Senate, the following can happen

While the group of Republican and Democratic senators who worked on December bipartisan stimulus package hinting at a possible avenue of collaboration between Biden and the next Congress, it is just as likely that Senate Republicans could try to keep spending in check if they retain control of the upper house.

When faced with a divided Congress, Biden will most likely do what each president has done when one or both chambers are in the hands of the other party, looking for areas where the two sides can find common ground. The passing of a new large-scale stimulus package may be off the table, but smaller aid proposals were aimed at specific needs – such as an increase in the minimum wage or another stimulus check strongly focused on the most deprived – could find support from two parties.

Biden could watch too executive actions to achieve some of his goals, just like President Donald Trump did this summer a series of implementing decrees. But without spending power (only Congress has that), Biden would be limited in what he could accomplish without the help of Congress – he wouldn’t have access to the money to send a second check.

While we wait for the new Congress and Biden’s government to perform next year, here is true negotiations are on a different stimulus check, which benefits disappear this year unless Congress decides to renew them and how soon you could expect to receive a second payment once approved by Washington.


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