Bipartisan Support for Another Round of Stimulus Checks Might Not Be Enough
The Trump administration and Democrats have been actively working to pass another stimulus bill before the presidential election on November 3, according to CNBC.
Yesterday, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke for 45 minutes to further discuss the aid. Analysts are concerned that there is not enough time to pass a package before the election in a couple weeks.
Both parties have proposed trillion-dollar packages in different amounts. Democrats want $2.2 trillion in relief and the White House is offering around $1.9 trillion. According to senior policy analyst at the Tax Foundation, Garrett Watson, if a deal isn’t passed prior to the election it could set it back until early next year.
However, both sides agree on sending another round of direct payments to Americans that qualify. The checks would be modeled after the first round of checks that passed under the CARES Act in March.
“There is broad agreement about the potential for stand-alone payments,” said Watson. However, many in the Democratic party oppose this and would only support the larger bill.