A photo of the economic stimulus control sent to U.S. citizens during the covid-19 / coronavirus … [+]
Until the past few days, America has waited, and watched as Republicans and Democrats strive to pass a bill that will pass our country and provide the necessary relief caused by the ongoing COVID-19 global pandemic.
While negotiations were exciting and stagnant, the one component that both parties agreed on, and most experts believed would be in the next incentive package, was the $ 1,200 incentive check. House Democrats first introduced the Heroes Act, which included a payment of $ 1,200 per person for those earning less than $ 75,000 ($ 150,000 for joint filers) with a 5% phase-out for those earning more as the limit. Then came the Republican Heals Act, and although there were strong differences over multiple issues as expected, one thing was clear: the $ 1,200 incentive check. And the details about pay and income were basically the same as the Heroes Act. So how is it that the latest concept of the Stimulus package does not include control for Americans?
What’s included in the latest incentive package design:
On August 18, Republicans in the U.S. Senate released a 169-page COVID-19 relief package bill, which they Direct Relief to America’s Families, Schools, and Small Businesses. It is referred to as a “Skinny” version, because the draft law has multiple expenditures previously included, one of the most obvious is not to mention another round of $ 1,200 payments to individuals. Some of the enrollment items are $ 300 in additional weekly federal unemployment benefits through Dec. 27, money for the Paycheck Protection Program, an additional $ 10 billion for the U.S. Postal Service, funding for reopening schools, coronavirus testing and fax production.
What happens next?
The Second Chamber and the First Chamber are currently on August break and are scheduled to return on Tuesday, September 8, which is the day after Labor Day.
However, because of the recent problems with the USPS, spokeswoman Nancy Pelosi has called the House back to Washington so they can vote on a bill to fund the USPS. Although Pelosi has insisted that the vote will only focus on USPS, this could open the door for negotiations on an incentive package deal.
White House Secretary of State Mark Meadows said this week President Donald Trump was ready to sign a deal. “Let’s go ahead and get an incentive check to Americans. Let’s make sure small businesses are protected … and put the postal funding in there. We’ll pass it on tomorrow. The president will sign it,” Meadows told CNN.
If this weekend goes on without further negotiations, they will pick up when they return to session in September.
While the fate of stimulus control does not look great right now, this current concept is just that – a concept. It will likely be dismissed by Democrats, but will likely be used by Republicans to strengthen their negotiating position. One of the biggest problems when it comes to agreeing on these bills is cost. The Democrats Heroes Act would cost $ 3 trillion, while the Republican proposed Heals Act would cost about $ 1 trillion. According to The Joint Committee on Taxation, a second round of stimulus checks under the Heroes Act would cost more than $ 400 billion.
The goal of both parties is to provide relief to Americans through an incentive package, and the end will include one combination of both proposed bills from both parties. There is room for negotiation and until this issue was released everyone seemed to be on board with the control. It is still hoped that the final version will include the $ 1200 incentive check.
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