HomeNewsStimulus Checks: Second Payment May Not Come Until October

Stimulus Checks: Second Payment May Not Come Until October

by Hunter Miller
(photo credit: SOPA Images / Contributor / Getty Images)

As the coronavirus pandemic continues, millions of Americans hope to receive another round of stimulus checks. However, they may have to wait a while longer.

The latest reports regarding a second payment claim that financial aid may not arrive until October. The extended wait is the result of stalled negotiations in Congress.

Both chambers of Congress are currently on vacation. The House of Representatives recently called back into session to vote on funding for the U.S. Postal Service. Senate does not plan to reconvene until Sept. 8.

Several weeks ago, Senate Majority Leader Mitch McConnell spoke out about Senate choosing to recess until next month. He says that Senators will be notified before any potential vote before Sept. 8.

“As has been the case, the senators would receive at least 24 hours notice before any unanticipated votes,” McConnell said, according to NewsWest9. “The American people need more help, coronavirus is not finished with our country, so Congress cannot be finished helping our people.”

Not only is Congress on recess, but also, the Democrats and Republicans are struggling to reach an agreement on many of the key points for a second deal. In the meantime, Senate Republicans released a new bill they refer to as a “skinny” relief package. The term “skinny” stems from the fact that the bill does not provide several major relief measures such as a second round of stimulus checks.

Is It Possible There May Be No Stimulus Checks at All?

While Americans may need to wait, experts remain optimistic about a second stimulus payment. The primary reason for the optimism is the fact that the economy needs a boost.

Without more aid, small businesses across the country continue to face closure. A report from earlier this summer reveals that more than 100k small business closed since COVID-19 began.

In conclusion, Americans don’t need to lose hope entirely for a second stimulus payment. They just need to prepare for waiting until at least after September.

[H/T Motley Fool]