By Aman Jain. Originally published at ValueWalk.
One big question that most Americans presently have is when the next stimulus checks are coming. Sen. Ted Cruz, however, has come up with an answer for that, but the answer will disappoint many. According to the senator, coronavirus stimulus checks are unlikely to come before the election.
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Delaying relief package a tactic to help Biden
People are waiting eagerly for the next checks, but this wait does not seem to be ending. If the Texas senator is to be believed, then people would have to wait for at least two months more to get the checks.
Cruz believes Congress is unlikely to reach a deal before Election Day, which is scheduled for November 3. During a virtual meeting hosted by the United Corpus Christi Chamber of Commerce, Cruz said both sides are different now than what they were at the start of the coronavirus pandemic.
Cruz said he is “skeptical” any progress would be made until November. Further, the senator blamed the other side, specifically House Speaker Nancy Pelosi, for delaying the deal. Cruz believes that Pelosi or Chuck Schumer does not intend to come up with an agreement, and delaying the agreement is their tactic to benefit Joe Biden in the elections.
“I think politically they’ve made a determination that the more people who are broke and pissed off… the better it is for Joe Biden and their side electorally,” Cruz said.
Following the meeting, Cruz tweeted that he is working to “get Texans safely back to work and our economy back on track.”
Why no coronavirus stimulus checks before election?
The possibility of coronavirus stimulus checks after Election Day is not totally out of reach. We are already in September, and yet there are no clear signs of the next relief package. The Senate is currently on recess and will come back after Labor Day on September 7.
Both Democrats and Republicans are firm on their demands. Democrats have proposed the $3 trillion HEROES Act, but are willing to compromise at the $2 trillion mark. Republicans, on the other hand, initially proposed the $1 trillion HEALS Act, but they are now reportedly preparing a $500 billion proposal.
Separately, White House chief of staff Mark Meadows last week offered a package of $1.3 trillion to Pelosi, which she rejected. There are unlikely to be any further talks on the next relief package this week.
Other evidence of coronavirus stimulus checks coming after the election comes from Axios. Biden’s economic advisers recently shared with Axios his plans to boost the economy if he wins the election. As per Axios, Biden would pass a stimulus plan in January and it would start rolling out as early as the spring. Biden’s plan would be called “Build Back Better” and would cost about $3 trillion.
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