By Michelle Jones. Originally published at ValueWalk.
If you’re like many Americans, you’re wondering about the date of the second coronavirus stimulus check. We don’t have anything concrete now, but whether or not there even is a second stimulus check depends on a few factors.
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What will determine if a second round of checks is sent
The coronavirus pandemic is what triggered the first wave of stimulus checks, and if there’s a second wave of the virus, that could increase the chances of a second round of checks. Some states are already seeing a resurgence of COVID-19, so even if there isn’t a widespread shutdown, businesses are sure to suffer. People just won’t feel comfortable going out to spend money, so more stimulus will clearly be needed.
Lawmakers are also watching unemployment and other economic numbers to see how the economy is doing. The economy added jobs in May, which surprised economists because they had been expecting it to shed more jobs. However, if businesses are still struggling to make ends meet, there could be another round of layoffs. Before they decide whether to send more stimulus, lawmakers will want to know that the economy is still struggling.
What will be the date of the second coronavirus stimulus check?
At this point, the only target date we can give as far as a second coronavirus stimulus date is July 20. That’s the earliest possible date that the Senate will take up debate on the phase four coronavirus stimulus package, which could include a second check.
Since the Senate isn’t going to take up debate on the next stimulus package until then, it means that whatever bill is decided upon will go to the House of Representatives at a later date. Then after more debate in the House, it will have to go to President Trump for a signature.
We can say the earliest date for a decision on a second coronavirus stimulus check will probably be sometime in August. That would mean that if the next stimulus bill does include more payments, they will be sent out after that.
There is one other date to keep in mind as well. When Trump said this week that they would definitely be sending out more checks, he said something would be announced in “a couple of weeks.” Congress will be on recess at that time, but it is possible that the Trump administration is working on a proposal that could be unveiled at that time.
If this is the case, it would mean that the Senate would have something to start debating on July 20 when they return. This would speed up the process, which would certainly be a good thing.
The post When will the second coronavirus stimulus check date be? appeared first on ValueWalk.
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