The United States government will likely distribute the second round of stimulus payments that Americans are eagerly waiting for. The possibility, however, will be discussed in detail after Congress takes its annual holiday.
Taking a vacation
Lawmakers will go on vacation on July 3 and will return on July 17, as reported by Bref News. Mitch McConnell, the Senate Majority leader, announced on May, the officials from Congress will decide on the potential second round of stimulus payments next month.
The timeline suggests that a decision will be made after politicians take into consideration the amount of money that was allocated into the first stimulus payment and the targeted recipients of the financial support.
President Donald Trump's administration previously suggested that the second stimulus payment distribution will be considered in July.
The coronavirus pandemic has severely affected individual workers and businesses alike, causing most to shut down or close altogether temporarily. The stimulus payments that the US government distributed helped support those struggling with unemployment and business closures.
According to Forbes, a White House adviser previously stated that Trump hoped to have a two trillion dollar fund for the next stimulus bill. The advisor, Peter Navarro, said that the president wanted to have double the previous stimulus amount passed for the second round.
Navarro pointed out that the second round of stimulus payments will focus on manufacturing jobs and is vastly different from previous speculations that it would revolve around a return-to-work bonus or payroll tax cut.
The advisor also said that President Trump is intent in having two trillion dollars for the next stimulus bill and focusing it on the manufacturing side. He also noted that Kevin McCarthy, the House Minority Leader, believes pharmaceuticals and medical supplies equipment should have an incentive in the next bill.
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Potential details
While the second round of stimulus payment is possible, and that Trump gives his support for the next bill, it is still not guaranteed. Navarro did not discuss having the second payment as being part of the law that Congress officials are looking into.
Last week, Steven Mnuchin, the Treasury Secretary, said on Capitol Hill that Trump's administration is highly considering more stimulus payments. He added that financial support could come in the form of direct money but would be aiming to get people to go back to work.
The term direct money could mean either the next stimulus check or it could mean funding for specific businesses in sectors that have been severely hampered by the coronavirus pandemic.
Although the White House approved the Heroes Act, the three trillion dollar bill that would include stimulus checks of up to $1,200 per individual and up to $1,200 for each dependent to a maximum of three, The Senate will refuse to pass the bill as they see it as it is today.
McConnell also expressed his non-support of a second stimulus check coming into play amid the coronavirus crisis.
Republicans, however, will work with White House advisers to draft the next bill. Still, there might be differences between the amount of money and details of distribution between it and the previous stimulus package.
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