congress closing in on new stimulus legislation

Members of both the House and Senate may soon be voting on legislation containing new stimulus spending that will eventually make its way in the form of a check to most Americans.

Senate Majority Leader Mitch McConnell, who initially opposed another stimulus check, has said that legislators want “another round of direct payments to help American families keep driving our national comeback.”

Although not all of the details have yet been worked out, it is possible that a new round of stimulus payments would be more targeted at people whose pre-COVID-19 economic shutdown income was at $40,000 or less.

Individuals making up to $75,000 a year received the first $1,200 checks. Smaller one-time checks, reduced incrementally, were capped for individuals at the $99,000 level.

A second $1,200 stimulus check may be a part of a larger overall $1 trillion coronavirus recovery package that will also include additional funding for the Paycheck Protection Program, as well as up to $105 billion to help in the reopening of the nation’s schools, and $15 billion to help child care centers create safe environments.

McConnell, however, has also indicated that he would be supportive of a single stimulus bill, rather than combining that legislation with other recovery initiatives.

Congressional analysts say that both Democrat and Republican lawmakers are now generally in favor of a second stimulus check, otherwise known as an Economic Impact Payment.
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In comments published in The Hill website, South Dakota Senator John Thune said, “There is considerable support for stimulus checks if we’re going to do something on an individual, personal level.”

​By Garry Boulard

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