The six stimulus packages have been projected to provide a second stimulus check for the Americans. The most recent proposal came from the White House last Friday.
Many stimulus bills have been discussed as the Americans hope to receive another round of direct payments soon to help them cope with the coronavirus pandemic-led economic crisis.
6 Stimulus Packages Projected With the Second Round of Stimulus Checks
Americans were waiting for Congress to pass a stimulus package with direct payments, as many are suffering because of the coronavirus-led economic crisis. Because the CARES Act had provided the first round of the stimulus checks, various stimulus relief aid packages are being planned with similar direct payments to the Americans. The recent proposal came from the White House last Friday.
When the $3.4T Heroes Act have provided a second round of stimulus checks for the American was stalled in the Senate, a revised version of the Act was then introduced by the end of September with the same direct payment proposal.
However, the bill was expected to be amounted to about $2.2T, and the House Democrats have approved it. House Speaker Nancy Pelosi has been in constant discussion with the Treasury Secretary Mnuchin on the said bill from its introduction.
Yet, the two cannot agree so far as Mnuchin proposed a $1.6T stimulus package counteroffer. Mnuchin stated that his proposal is similar to a $1.5T stimulus proposal by the Problem Solver Caucus, a 50-member bipartisan group that provides $1,200 direct payments to the Americans.
As Mnuchin and Pelosi’s talks continue to heat up, President Donald Trump made a shock move to call off the stimulus negotiations amid Democrats and Republicans until after the election. Though, hours later, he called on Congress to commend a stand-alone stimulus bill for giving stimulus checks to Americans directly. But, Pelosi declined to ponder this stand-alone bill.
The Latest Stimulus Plan: $1.8T Package
As the stimulus negotiations amid Democrats and Republicans have resumed, with Pelosi aggressive for the $2.2T Heroes Act, the White House has publicized on Friday that it has augmented its stimulus package offer to $1.8T Trump has accepted. The latest proposal also contained another round of $1,200 immediate payments to Americans. Trump tweeted last Friday,
“Covid relief negotiations are moving along. Go big.”
Though, in a letter to her conclave on Saturday, Pelosi called the White House’s plan “insufficient” and said it amounted to “one step forward, two steps back.” Sources also told NBC News that Senate Republicans had expressed antagonism to the offer in a call on Saturday with Mnuchin and White House Chief of Staff Mark Meadows. Pelosi assumes that the Trump administration’s plan lacks a strategic plan to contain the spread of coronavirus and has insufficient backing for state and local governments and financial relief for the American families.
The Federal Reserve Chairman Jerome Powell urged Congress last week to pass the more fiscal stimulus. He cautioned that not to do so could “lead to a weak recovery, creating unnecessary hardship for households and businesses,” highlighting his view that the Congress had an imperfect risk of “overdoing” relief.
Temporarily, Pelosi has interrogated Trump’s health in following the president testing positive for the coronavirus. She has indicated her meaning to discuss the 25th Amendment, which allows for the vice president to develop an acting leader if it is determined that the leader
“is unable to discharge the powers and duties of his office.”
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