TOPLINE
With only four days until Congress returns from recess to discuss the details of the upcoming stimulus bill, a bipartisan group of more than 100 members of the House of Representatives urges the IRS to solve problems related to the first round of stimulus payments.
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KEY FACTS
Lawmakers are asking the IRS to quickly resolve problems related to the first round of stimulus payments for those Americans who are still waiting for money.
Problems include late stimulus payments, improperly withheld stimulus payments, confusing information related to an individual’s eligibility for a payment, and technical issues related to IRS online tools.
However, the vast majority of the first round of stimulus payments has already been sent to more than 160 million people and households.
Representative Suzan DelBene (D-Wash.), Representative Danny Heck (D-Wash.), Representative Jackie Walorski (R-Ind.), And Representative Cathy McMorris Rodgers (R-Wash.) Are the four primary signatories of the letter, followed by more than 100 of his colleagues.
The push to fix outstanding payment problems comes as Congress debates whether another round of direct stimulus controls should be included as part of the next aid package.
President Trump explicitly expressed his support for the extra checks, as have House Democrats, but some Republican leaders are hesitant and have said they want to toughen eligibility requirements or eliminate payments entirely in the upcoming bill.
Crucial quote
“We have several constituents facing greater financial difficulties as the COVID-19 pandemic continues and they are still waiting for their EIP, or waiting for an error in the EIP to be resolved,” the lawmakers wrote in their letter. “While the IRS claims that all problems can finally be resolved with 2020 tax returns in the next calendar year, for many of our constituents, that wait is simply unsustainable.”
Key background
Like many other elements of the $ 2.2 trillion CARES Act, the economic relief bill signed by Trump in March, rolling out economic impact payments was difficult and sometimes chaotic. From the beginning, there were rumors that the launch would be delayed because Trump wanted his name to be printed on individual checks. The IRS payment tracking site was slow to launch and plagued with technical issues, and many were unable to track their payments or even determine their eligibility for a payment through the tool. More than $ 1.4 billion in stimulus money (about 1.1 million payments) was mistakenly sent to the deceased due to inconsistencies in the way the IRS has access to federal death records.
What to look at
Congress will return from its July 4 recess next week with just a few days to analyze the logistics of more stimulus legislation before several key provisions of the CARES Act expire. Meanwhile, millions remain unemployed, new cases of coronavirus are regularly breaking records across the United States, and states that have reopened their economies are forced to close them again. Senate Majority Leader Mitch McConnell (R-Ky.) Is expected to publish a $ 1 trillion Republican aid proposal within the week in response to a $ 3 trillion package approved by the House-led House. Democrats in May.
Further reading
White House closer to committing to expanded unemployment benefits, but it may be too late (Forbes)
Report: Republican Officials Weighing Lower Income Limit For Second Round Of Stimulus Checks (Forbes)
This is when we will know if the provisions of the CARES Act, including a stimulus verification, will be renewed. (Forbes)
It’s official: Trump wants a second round of stimulus checks on ‘bigger numbers’ than Democrats (Forbes)
