“It’s a down payment,” President-elect Joe Biden said on December 16. “An important down payment for what is due in late January and early February.”
If Congress oneand a new, larger economic aid package follows in the early days of the US , is there a chance that Americans could see a third stimulus check in 2021?
The issue of additional monetary relief for individuals comes at a time when, according to the Washington Post, more than 8 million people have fallen to the poverty line since the summer; when daily positive COVID-19 cases are overwhelming hospitals across the country; and when the death toll rises. Theis currently being managed and health workers across the country, but officials say it will be many months .
Below we describe what we currently know about stimulus checks in 2021. This story will be regularly updated with new information.
A $ 600 stimulus check could pass in 2020, but arrive in 2021
If another direct payment is made in 2020 as part of the COVID-19 bill, chances are the IRS and the U.S. Treasury can send it. But there is also a very real possibility that many people will not receive their payment until 2021.
It all depends on exactly when the account is approved, how quickly the IRS could act and a range of other factors causing you tooff the line.
Is a third stimulus check also possible in 2021?
In theory, it is possible to see another stimulus check in 2021. The ins and outs are starting to get complicated, but there are three essential things to think about.
First, there is huge support from both Republicans and Democrats for a second $ 1,200 stimulus check. The delay was mainly centered around resistance to certain elements within the umbrella account and the total amount of expenditure, not necessarily the size of a stimulus check. The reported amount of $ 600 is a compromise to get the bill approved in a short period of time.
Then there is precedent. In addition to the current support, the fact that Democrats and Republicans agreed to a $ 1,200 amount earlier in 2020 makes it more likely they want to at least match that. A check for $ 600 would now take the US halfway through.
Finally, a new government will be sworn in. A complicated and divisive run-out for two Senate seats in Georgia on Jan. 5 will decide whether Republicans retain control of the Upper Chamber or if Democrats narrowly take control, via a 50-50 number of seats, with Vice President-elect Kamala Harris taking the decisive votes. The party in control also controls several major sub-committees, with the power to influence laws. Adepending on the composition of the next conference.
How much money could you see in a third stimulus check – $ 600, $ 1,200 or something else?
It’s too early to say whether a third stimulus check would make up for the difference and match a payment of $ 600 per person in 2021, or whether lawmakers would advance a completely new payment of $ 1,200 to follow in the footsteps of the first stimulus check which was passed in March as part of the CARES Act.
Much will depend on it(see above) and what the new Biden administration sees as its goals in rebuilding an economy weakened by the coronavirus pandemic. For the time being, we are waiting to see what happens with the second stimulus check, with an eye to the beginning of 2021.
For more information on stimulus controls, here’s how you mightor a . Here is . And this is an introduction to the and if and when it passed, based on important dates.