“The compromise law isn’t perfect, but it will do a tremendous amount of good for the struggling Kentuckians and Americans across the country who now need help,” Senate Leader Mitch McConnell tweeted minutes after Trump signed the law.
It’s not clear why Trump changed his mind after days of the “measly” size of the, and promoting its agenda to the . All weekend, American leaders, from President-elect Joe Biden to Sens. Pat Toomey and Bernie Sanders, Trump’s delay in signing the bill. Trump planned to sign the package at 7 p.m. ET on Dec. 24, CNN reported Sunday, before the president reportedly changed his mind.
“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.
Biden refers to the incentive portion of the joint package as a ‘first step and down payment’, predicting a higher bill after he has— including .
House will vote on a second $ 2,000 stimulus check on Monday
The House of Representatives will vote on a bill (PDF) on Monday to introduce theTrump is asking for up to $ 2,000 each . It is not clear whether the legislation will pass the senate. It all depends on whether Trump will continue to hold sway with Senate Republicans in his last 24 days before , or that a check for $ 2,000 – which could significantly increase the size of the COVID-19 emergency allocation – will split the lot.
“If the president is serious about $ 2,000 direct payments, he should call on House Republicans to end their obstruction,” Pelosi said on Dec. 24. Monday, I will return the House to the session where we will have a recorded vote on our standalone bill to increase the economic impact payments to $ 2,000 …to keep the government open and provide help with the coronavirus. “
Democrats have long been calling for a bigger oneas part of a larger general aid package. Trump distanced himself from the negotiations and his administration’s negotiator, Treasury Secretary Steven Mnuchin, offered the $ 600 ceiling for the totals.
Republican and Democratic lawmakers approved the two-in-one omnibus package on Dec. 21 by overwhelming margins, after months of painful negotiations.
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. This story is often updated with new information.
Trump’s $ 2,000 stimulus check mark is entering familiar territory
Since the spring, several Democrats have proposed a $ 2,000 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.
Biden already supports a third stimulus check
Most American leaders seem like theas a stepping stone to a larger aid package in 2021, one that can and other provisions that Republicans and Democrats agreed to omit this round 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,” Biden said Tuesday, emphasizing that.
How fast can the IRS send your payment?
Aid is likely to start running within a week or two after the law is officially passed, with certain funding programs potentially receiving financial aid before the end of 2020. On December 21, the Treasury Secretary Steven Mnuchin set the goal of sending payments via the following weekto people who qualify for one to receive their payment intended to bring direct cash flow to tens of millions of Americans.
Due to the delay in signing the bill, the timeline is likely to shift by a week as agencies need time to set up their processes and communicate with recipients about what to do or expect.
You can. Here’s what . This is what we know , and there are more details on this .
Why didn’t the bill include a second $ 1,200 or $ 2,000 stimulus check?
Ahas had widespread bipartisan support since the CARES Act was passed. In recent months, everyone from Trump and 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 allegedly convinced him at the time that making such demands would jeopardize a stimulus bill, The Washington Post reported, and the White House offer was officially extended to $ 600.
While many are in favor of a $ 1,200 direct payment 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 reportedly curbed the charges.
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, and what you need to know about the proposals for incentive laws that can help inform a final package.