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Home / Tips and Tricks / Trump doubles second stimulus check demand from $ 2,000. Biden bites back. What now?

Trump doubles second stimulus check demand from $ 2,000. Biden bites back. What now?



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The American stimulus package is in trouble again. Here is the situation with a second stimulus check.

CNET

President-elect Joe Biden has something to say to President Donald Trump: “This bill is critical. It must now be legally signed.” Biden sued in a statement on Saturday to punish Trump for failing to sign a $ 2.3 trillion joint bill scattered COVID-19 relief such as a second stimulus control and federal unemployment insurance, as well as government funding until 2021.

“This relinquishment of responsibility has devastating consequences,” said Biden. “It’s the day after Christmas, and millions of families don’t know if they’ll be able to make ends meet because President Donald Trump is refusing a bill for economic emergency aid approved by Congress by an overwhelming and bipartisan majority. “

Trump also had a bone to pick, renewing his call for one Saturday $ 2,000 second stimulus check to replace one to $ 600 payment, the same day federal unemployment benefits expire for tens of millions of Americans. President-elect Joe Biden proclaimed Trump for failing to sign the bill into law.

While Republican and Democratic lawmakers passed the two-in-one omnibus package by overwhelming margins on Dec. 21, Trump’s demand throws the double bill, which has been painfully negotiated for months, in turmoil.

“I just want to get our great people $ 2000 [sic], instead of the meager $ 600 now in the account. Also stop the billions of dollars in ‘pork,’ Trump tweeted Saturday morning, referring to elements of the government funding portion of the bill that members of his party agreed to reflect Trump’s own budget requests.

As it stands now, the calculations that determine your share of the $ 600 payment would many Americans disqualify of receiving one second stimulus control.

Trump also tweeted the same position on Christmas Day, following a wave with Senator Lindsey Graham. “Why wouldn’t politicians want to give people $ 2000 instead of just $ 600?” He said. “Give our people the money!”

The President’s opposition to the amount set aside in the bailout law for a second stimulus control threatens the viability of a bill that has long been seen by professional legislators as a stop-gap until another, larger package is introduced in early 2021.

“It’s… a first step and a down payment for more measures to be taken early in the new year to revive the economy and contain the pandemic,” Biden said. The upcoming president has already committed to a third stimulus check.

Adding to the confusion, Trump has not said outright whether he will veto the bill outright. If he does, Congress might get a chance to put it aside. If Trump just doesn’t sign the bill as it is, it’ll be a pocket veto – there wouldn’t be enough time for it to go into effect before the end of its eight-day congressional session, which would begin the new 117th Congress. all over again if there is no bill for their swearing-in on January 3rd.

Democrats have long been calling for a bigger one second stimulus control as part of a larger general aid package. Still, Trump’s 11 o’clock insistence – he didn’t participate in stimulus negotiations – may not change the needle on the bill’s abilities and scope.

The House of Representatives will vote on a bill (PDF) on Monday to introduce a second stimulus check for up to $ 2,000 per qualified adult, but the legislation is not expected to pass the Senate. Dec. 28 is the same day the federal government faces another shutdown unless another contingency plan is passed by Congress to keep the lights on.

“If the president is serious about the $ 2,000 direct payments, he must call on House Republicans to end their obstruction,” Pelosi said Thursday. “On Monday, I will return Parliament to the session where we will have a registered vote on our stand-alone bill to increase payments for the economic impact to $ 2,000.… Hopefully the president will have signed the agreement by then. bipartisan and bicameral legislation to keep the government open and provide help with the coronavirus. “

The trouble started on Tuesday when Trump released the second stimulus check’s $ 600 per person upper limit if “ridiculously lowand asked Congress for instead, change the bill to an upper limit of $ 2,000, indicating that he would not sign the stimulus bill into law without Congress meeting his condition.

“I think a lot of people both within the White House and in the Republican Party on Capitol Hill, as well as the Democrats, are hoping that he will calm down and just sign the bill very calmly, and say nothing about it,” Politico Chief Economic Correspondent Ben White told CNBC on Friday.

A Republican Senate leader, Roy Blunt of Missouri, agreed. “The best way to get out of this is for the president to sign the bill, and I still hope he decides,” Blunt said Thursday, according to The Hill.

As we monitor the situation closely, read on to learn more about the amount of the $ 2,000 stimulus check (the figure was pushed forward by a number of Democrats in mid-2020), the scenarios that could arise, and what we know about a third stimulus check for 2021. This story is often updated with new information.


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Second stimulus checks: everything you need to know


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Trump’s $ 2,000 stimulus check isn’t new

Since the spring, several Democrats have proposed a $ 2000 incentive check, including Vice President Senator Kamala Harris, sens. Bernie Sanders and Ed Markey and a one-time presidential hopeful (and now hopeful New York mayor) Andrew Yang. Some supporters of this figure have even suggested sending checks on a monthly rather than one-time basis.

To draw or not to draw? What Trump could do from here

There’s a lot of dialogue about this right now, but here are some simplified options:

  • Trump could sign the $ 900 billion anyway. The Incentive Act and the Financing Memorandum for 2021 are linked.
  • Trump could live up to his threat by actively vetoing the stimulus package.
  • He could passively refuse to sign it (aka a pocket veto). If Congress doesn’t deliver the full bill to Trump by the end of the day, they are not expected to have enough time to override the veto. This requires a two-thirds majority in both the Senate and the House of Representatives, a margin that both houses have already cleared but may not have time to vote on.
  • If the bill fails, the new parliamentary term, which starts on January 3, must start again.

Biden is already preparing for a third stimulus check

Most American leaders seem like the $ 900 billion incentive bill as a stepping stone to a larger aid package in 2021, one that might be able to do that include a third stimulus check and other provisions that Republicans and Democrats agreed to omit this round in order to strike a critical deal.

“This bill is just the first step, a down payment, to address the crisis – crises, more than one – we are in,” President-elect Joe Biden said Tuesday, emphasizing that he would like to see a third stimulus check.

If the current incentive law becomes law, how soon can the IRS send a check?

Aid was likely to begin to go out within a week or two of the law being officially passed, with certain funding programs potentially getting financial aid before the end of 2020. On Monday, Treasury Secretary Steven Mnuchin gave the goal of sending payments through next week direct deposit to people who qualify for one second stimulus control to receive their payment intended to bring instant cash flow to tens of millions of Americans. And the $ 300 unemployment checks will restart on December 26.

If the bill signing is delayed, the timeline can shift as agencies need time to set up their processes and communicate with recipients about what to do or expect.

You can now calculate the total of your second stimulus check. Here’s what payment group you may be in. This is what we know how soon we think the IRS can send a second stimulus check, and there are more details on this weekly unemployment insurance.

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A vote can be taken on the new stimulus package soon.

Sarah Tew / CNET

Why was a second stimulus of $ 1,200 or $ 2,000 not part of the deal?

A second stimulus control has had widespread bipartisan support since the CARES Act was passed. In recent months, everyone from Trump and Biden to members of Congress, economists and ordinary people have advocated a different direct payment.

Trump has previously called for “more money than they are talking about” in stimulus checks as large as $ 1,200 or $ 2,000 per person. Aides reportedly convinced him at the time that making such demands would jeopardize a stimulus bill, The Washington Post reported, and the White House’s offer was officially extended to $ 600.

While many are in favor of a direct payment of $ 1,200 in theory, a second smaller stimulus check has helped keep costs below the $ 1 trillion mark that Republican lawmakers said in the past they would support.

Stimulus control isn’t cheap. The IRS said this summer it had spent $ 270 billion sending 160 million checks, and on Monday Senator Mitt Romney, a Republican involved in drafting the bipartisan stimulus proposal, predicted a cost of $ 300 billion if the checks once were charged again for $ 1,200 per person. Republicans have reportedly curbed costs.

A variety of factors could have contributed to a second stimulus check making its way into the final bill at all, from popular opinion and presidential bias to complicated negotiations that cut $ 160 billion from elsewhere, enough for a smaller stimulus check than before.

For more information on stimulus controls, here how quickly you now get your second stimulus check, what to do to speed up the delivery of a possible second check and what you need to know about the HEALS, CARES and Heroes proposals for incentive laws that can help inform a final package.




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